Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Exclusive-Ukraine port of Odesa not operating after Russian drone attack on energy facilities -minister

Published 12/11/2022, 03:35 AM
Updated 12/11/2022, 11:31 AM
© Reuters. FILE PHOTO: A view shows a grain terminal in the sea port in Odesa after restarting grain export, as Russia's attack on Ukraine continues, Ukraine August 19, 2022. REUTERS/Valentyn Ogirenko/File Photo

By Pavel Polityuk

KYIV (Reuters) - The Ukrainian port of Odesa was not operating on Sunday after the latest Russian attack on the region's energy system, Agriculture Minister Mykola Solsky said, but added that grains traders were not expected to suspend exports.

Two other ports - Chornomorsk and Pivdennyi - authorised to export grains from Ukraine under a deal between Russia and Ukraine were partially operating, he said.

"Chornomorsk port is now operating at about 80% of capacity," Solsky told Reuters in a phone call.

More than 1.5 million people in the southern Odesa region were without power after Russian drone strikes hit two energy facilities, Ukrainian President Volodymyr Zelenskiy said in a video address late on Saturday.

Solsky said that Odesa port was not operating at the moment because the power generators had not been switched on yet. Grains traders continued to ship grains via the two other ports, he said.

"There are problems, but none of the traders are talking about any suspension of shipments. Ports use alternative energy sources," Solsky said.

Since October, Moscow has been targeting Ukraine's energy infrastructure with large waves of missile and drone strikes.

Odesa regional authorities said electricity for the city's population will be restored "in the coming days," while complete restoration of the networks may take two to three months.

"The situation is difficult to predict because we are dealing with an enemy for whom there are no principles," the Ukrainian infrastructure ministry quoted Oleksiy Vostrikov, the head of Ukraine's state seaport authority, as saying.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"As for exports, Russia has already slowed them down by creating problems with inspections in the Bosporus, and the lack of energy supply will certainly slow them down even more," Vostrikov said.

Ukraine is among the world's largest producers and exporters of corn and wheat but its exports have fallen significantly due to the Russian invasion.

After an almost six-month blockade caused by the invasion, the three Black Sea ports in the Odesa region were unblocked at the end of July under the deal between Moscow and Kyiv brokered by the United Nations and Turkey.

Kyiv had sought to have the agreement expanded to include more ports, but that has not been concluded so far.

The three ports involved in the deal - Odesa, Chornomorsk and Pivdennyi - have the combined capacity to ship around three million tonnes of grains a month.

Ukraine wanted to include the ports of the southern Mykolaiv region, which shipped 35% of Ukrainian food exports before Russia's invasion.

Mykolaiv was Ukraine's second-largest grain terminal according to 2021 shipment data, so its addition would allow for a much larger volume of grains and oilseeds to be exported.

Grain exports from Ukraine in the first eight days of December fell 47.6% from a year earlier to 1.09 million tonnes, agriculture ministry data showed.

Latest comments

Europe will do nothing as they have no heat this winter if Russia so decides. They listened to a 16 year old girls leftist propaganda and now the entire world is suffering endless grief.
Your comments are laughable. Do you imagine people take you seriously IRL?
Send more long distance weapons now before ukraine will be destroyed with help from iran
The solution could be simple: supply Ukraine with weapons capable to hit Russian energy infrastructure. Simple as it is. Of course, western fools in charge are unable to make any good decisions.
In what way is that a solution?
dont lose more money
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.