Russian attacks bring exports through Ukraine's Odesa ports close to standstill
Exports through the Greater Odesa ports have nearly come to a halt due to Russian attacks (photo: Getty Images)
Russian strikes on civilian shipping and port infrastructure have sharply reduced operations at the ports of Odesa, Chornomorsk, and Pivdennyi, according to The Telegraph.
According to media reports, due to growing risks, shipowners are refusing to enter Ukrainian ports. This has already led to a sharp decline in exports and could cost Ukraine up to 1.5% of GDP by the end of the year.
According to Dmytro Barinov, president of the Ukrainian Ports Association, between July 20 and August 20, an average of only one vessel per day passed through the port of Odesa, compared with seven to eight previously.
The nature of shipping has also changed: shipowners who agree to operate on routes to Ukraine are trying to use smaller vessels and minimize crew numbers due to security risks.
According to The Telegraph, Ukrainian grain exports in the first half of August were about 75% lower than a year earlier. Economic analysts cited by the media outlet estimate that prolonged restrictions on maritime trade could result in losses of up to 1.5% of GDP by the end of 2026.
The main reason for the decline in exports has been systematic attacks on civilian vessels and port infrastructure. According to The Telegraph, more than 200 civilian vessels have been attacked in the Black Sea since 2022, while the intensity of strikes on the Greater Odesa port area has recently increased.
The Ukrainian Ports Association warns that further disruption of the maritime corridor poses risks not only to the Ukrainian economy but also to the global market.
The Ukrainian Navy says work to stabilize the maritime corridor is ongoing. At the same time, the port industry is calling on international partners to become more actively involved in ensuring the safety of civilian shipping in the Black Sea.
Earlier, the Ukrainian National Committee of the International Chamber of Commerce said that if the maritime corridor does not resume operations, Ukraine could lose about 10% of GDP, $17 billion in export revenue, and another $8.5 billion in tax revenues. More than 30 million tonnes of agricultural products would not reach global markets.
Read more about how the halt in shipping due to Russian attacks could affect the Ukrainian economy, whether there are alternatives, and how the ports could be unblocked in RBC-Ukraine's article.
