Ukraine loses over $7 billion due to nearly four months of port downtime

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Commercial merchant ships continue to avoid the ports of Odessa, Chernomorsk, and Yuzhny

MOSCOW, November 14. /TASS/. Ukraine has lost over $7 billion in foreign exchange revenue due to the nearly four-month-long shutdown of the Odessa Region ports, according to TASS calculations.

Commercial merchant ships continue to avoid the ports of Odessa, Chernomorsk, and Yuzhny. Only vessels affiliated with the Ukrainian armed forces are calling at those ports. Meanwhile, maritime trade is being routed through the Danube ports of Izmail in Ukraine and Constanta in Romania, which together can handle no more than one-third of the exports that previously passed through the Odessa Region ports. Consequently, Ukraine exported only about half of its planned agricultural exports in October. Exports of metallurgical products ceased entirely at the end of September due to the shutdown of steel mills.

By utilizing the railway network and Danube ports for exports, Ukraine has partially reduced its losses, albeit only to a limited extent, from approximately $70 million per day in August to $50-60 million from September to November.

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