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Due to the Russian blockade of ports, Ukrainian economy loses about $170 million every day

Due to the Russian blockade of ports, Ukrainian economy loses about $170 million every day

Before the war, Ukraine exported more than 70% of all cargo, worth about $47 billion via seaports. Since February 24, 2022, the sea gate of Ukraine has been blocked by the Russian navy and anti-ship mines. As of mid-April 2022, Ukraine does not control four seaports: Mariupol, Berdiansk, Skadovsk, and Kherson. The rest of the ports either only allow the goods to be transported further by road and rail or are too small to provide the needed turnover.

Hundreds of thousands of tons of cargo were trapped in ports and ships. Partially, it has been transported by road and rail, but the rest can’t be used, as it has been under fire or captured by the Russian military. At the beginning of the war, just in one Mariupol seaport, there had been about 300,000 tons of cargo — blocked together with six loading ships, said the Head of Mariupol Commercial Sea Port Serhii Husakov. About 70% of the port office buildings burned down.

Due to the blockade of ports, the economy loses about $170 million every day, as estimated by Oleh Nivievskyi, assistant professor at the Kyiv School of Economics. However, even if Ukrainian exporters managed to transport their grain and other agri-foods to the nearest European border by rail or road, the European infrastructure is not ready to transfer the cargo further in the required volumes.

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