The British company Lloyd’s insures ships exporting grain from Ukraine. “This is another important step in ensuring grain exports can leave Black Sea ports following last week’s landmark UN agreement,” said British Foreign Secretary Liz Truss. Russia and the Ukraine had signed an agreement on the release of grain exports through the mediation of the United Nations and Turkey. Nevertheless, shipowners and traders warned that they could not navigate through the mined waters without safety guarantees.
The insurance company says that with the export facility, ships transporting grain and other food products from Ukrainian ports have reliable cover for their voyages. This offers additional protection to the agreed deal, says the responsible Lloyd’s manager Patrick Tiernan.