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

Ukraine formally closes seaports captured by Russia

Published 05/02/2022, 04:08 AM
Updated 05/02/2022, 04:10 AM
© Reuters. FILE PHOTO: A view shows a port in the course of Ukraine-Russia conflict in the southern city of Mariupol, Ukraine April 29, 2022. REUTERS/Alexander Ermochenko/File Photo

KYIV (Reuters) - Ukraine has formally closed its four Black and Azov sea ports, which Russian forces have captured, the Ukrainian agriculture ministry said on Monday.

The Azov Sea ports of Mariupol, Berdiansk and Skadovsk and the Black Sea port of Kherson were closed "until the restoration of control", the ministry said in a statement.

"The adoption of this measure is caused by the impossibility of servicing ships and passengers, carrying out cargo, transport and other related economic activities, ensuring the appropriate level of safety of navigation," it said.

All Ukrainian seaports have suspended their activity as a result of the Russian invasion in late February. Russian forces captured some ports and blockaded others.

Ukrainian President Volodymyr Zelenskiy said on Monday Ukraine could lose tens of millions of tonnes of grain due to Russia's control of Black Sea shipping, triggering a food crisis that will affect Europe, Asia and Africa.

"Russia does not let ships come in or go out, it is controlling the Black Sea," Zelenskiy told the Australian news programme 60 Minutes.

"Russia wants to completely block our country's economy."

Russia calls its intervention in Ukraine a "special operation" to disarm Ukraine and protect it from fascists. Ukraine and the West say the fascist allegation is baseless and that the war is an unprovoked act of aggression.

Ukraine, a major agricultural producer, used to export most of its goods by sea but has been forced to switch to export by train via its western border or via its small Danube river ports.

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

The ministry said last week Ukraine's grain exports had reached 45.709 million tonnes in the 2021/22, July-June season.

It said the volume included 763,000 tonnes exported in April but gave no comparative figures. Senior agriculture officials said this month that Ukraine exported up 300,000 tonnes of grain in March.

Latest comments

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.