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Ukraine to Set Up $500M Insurance Fund for Cargo Ships Entering Ports

February 24, 2023

Ukraine will offer compensation for possible damages to civilian vessels entering its ports, Deputy Prime Minister Oleksandr Kubrakov said on Friday, as Kyiv tries to boost exports that are vital for its war-hit economy.

Ukraine is a major producer and exporter of agricultural products, metals and chemical goods but has faced blockades of Black Sea ports since Russia’s invasion a year ago and only food cargo can be shipped abroad.

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