Ukraine faces US$8bn loss due to closure of ports

Ukraine risks losing at least US$8 billion in export revenue from June 2026 to June 2027 if its Black Sea ports remain closed.

Source: The Financial Times, citing an estimate by Ukraine's Minister of Agrarian Policy Taras Vysotskyi

Details: According to Vysotskyi, such a shortfall would equal approximately 20% of Ukraine's total export revenue for the past year. This represents a forecast based on a prolonged port shutdown, rather than already recorded losses.

Ukraine had planned to export 64 million tonnes of agricultural products this year. However, without the resumption of maritime shipping, Vysotskyi estimates that at best only half of this volume will be successfully exported.

As the FT reports, Russian attacks on vessels and port infrastructure have effectively halted operations along the primary maritime export route. Road transport is significantly more expensive and cannot compensate for its loss.

Even a resumption of shipping would not mean a return to previous volumes. Shota Khajishvili, owner of the Risoil terminal in Chornomorsk, told the publication that following the attacks, the company could operate at only 30% capacity – loading two vessels simultaneously instead of five.

Background: The European Commission proposes to significantly restrict Ukraine's access to the EU agricultural market and agricultural subsidies even after accession.

Support Ukrainska Pravda on Patreon to help us keep reporting!