Economy

There has formed a congestion of about 90 ships near the sea channel Sulina. The Romanian side does not cope with the problem and ignores the proposals of the Ukrainian port workers.

Since the world’s largest container carriers refused to work with the aggressor country, russia needs to look for new ways for container traffic. The European embargo on a number of russian raw materials and the closure of many ports for russian vessels also forces russia to look for new partners for trade. China became the hope for russian federation in this matter. But the plans of russian federation were hindered by another outbreak of COVID-19 in the People’s Republic of China, which blocked Chinese ports for an indefinite period.

In response to the military aggression of russian federation, in March the Verkhovna Rada adopted a law on the nationalization of the property of russian legal entities and individuals in Ukraine – movable and immovable, as well as funds, deposits in banks, securities, corporate rights and other assets. Among the objects that fall under alienation are large enterprises with a billion annual profits.

A number of exceptions remain in the new EU sanctions against Russia, creating opportunities for circumvention.

The European Commission predicts an increase in grain exports from Europe to make up for the shortage of Ukrainian wheat on the world market.

At a meeting on Saturday, April 9, the Cabinet of Ministers legally confirmed the decision to terminate trade relations with the Russian Federation.

The Cabinet of Ministers has abolished the licensing of exports of corn and sunflower oil.

Traders have made the first shipments of Ukrainian corn to Europe by rail as Ukraine’s seaports remain blocked by Russia’s invasion.

During the month of the war, the estimated amount of losses inflicted by the Russian Federation on the entire transport infrastructure of Ukraine amounted to almost $40 billion.

Following Russia’s invasion of Ukraine, forward prices for future Ukrainian feed barley rose to $400/tonne.