Hopes Of Export Stability Grows As Four More Grain Ships Leave Ukraine

EKO HOT BLOG reports that four more ships carrying grain and sunflower oil have left Ukraine ports via a safe maritime corridor.

Millions of tonnes of grain have been stuck in Ukraine due to Russian blockades, leading to shortages and higher food prices in other countries.

But last week a ship left Ukraine’s port for the first time since February.

The latest ships to set sail are bound for Turkey where they’ll be inspected as part of a deal reached with Russia and the United Nations.

They left on Sunday from the ports of Odesa and Chornomorsk, and will all travel through the Bosphorus strait.

After the inspections, two are then scheduled to dock in Turkey, while the others are headed for Italy and China. Another empty ship has been authorised to travel to Ukraine for loading.

Under a deal brokered by Turkey and the UN last month, Russia agreed not to target ships which were in transit, while Ukraine said it would guide vessels through mined waters.

The deal, set to last 120 days, can be renewed if both sides agree.

The complex arrangement seems to be working, at least for now.

The success of this deal, a rare diplomatic breakthrough in this five-month-old conflict, is vital for Ukraine – and the rest of the world.

Twenty million tonnes of grain are stuck in the country, as a result of the blockade imposed by Russian on Ukrainian ports. If the deal holds, Ukraine expects to export up to three million tonnes of grain per month.

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