The Verkhovna Rada has approved amendments to the Law of Ukraine "On the State Budget of Ukraine for 2023", which provide charterers, operators and/or owners of sea vessels and inland navigation vessels with compensation guarantees for damage caused as a result of Russian aggression. Up to 20 billion hryvnias are provided for these purposes.

The relevant changes were developed by the Ministry of Reconstruction in cooperation with the People's Deputies of Ukraine and together with the Budget Committee.

 

"People's deputies have taken an important step today to fully restore civil navigation in the Black Sea. Together we are looking for ways to ensure the operation of Ukrainian ports and expand the nomenclature for trade turnover," Olexander Kubrakov, Deputy Prime Minister for the Restoration of Ukraine, Minister of Community Development, Territories and Infrastructure, said.

 

"I am sure that the risk compensation guarantees will be a powerful signal for stabilizing the Ukrainian and global economy,” he added.

 

The amendments adopted by the Parliament refer to ships that sail both under the flag of Ukraine and the flags of foreign states. The Government of Ukraine will allocate funds for compensation of harm.

 

Due to the sabotage of inspections in the Bosphorus by the Russians, more than 140 ships get stuck in the artificial queues every month. This has led to a decrease in the efficiency of the Grain Initiative. Now, it does not exceed 40% of the available export capacity.

 

A year ago, in February 2022, a similar decision was made for the aviation industry. Then the Government, in coordination with the Budget Committee of the Verkhovna Rada of Ukraine, allocated UAH 16.6 billion to ensure flight safety in Ukraine for insurance companies, reinsurers, leasing companies, and air carriers.