Ukraine Works On Plan With Insurers To Keep Grain Shipments Going

Russia's withdrawal affected merchant shipping around Ukraine's three Black Sea ports as the Kremlin threatened that if any ships leave the ports they could suffer attacks.

Ukraine is hosting discussions with major insurance companies in attempt to cover ships traveling to and from its ports in the Black Sea.

Working with insurance companies comes after Russia’s withdrawal from the Black Sea grain agreement that once allowed a safe passage for ships transporting grain to and from Ukrainian ports amid the ongoing war.

Russia’s withdrawal affected merchant shipping around Ukraine’s three Black Sea ports as the Kremlin threatened that if any ships leave the ports they could suffer attacks. The retraction of the agreement has already pushed up global food prices and could force millions in poor countries into hunger.

To keep grain shipments moving, Ukraine’s government will share potential losses with insurers, which should make travel through the risky waters more affordable and possible for commercial shipping companies.