Ukraine’s ports exported more agricultural products in December 2023 than at any other point since russia’s invasion, almost certainly driven by the reopening of Ukraine’s main Black Sea ports and establishment of a unilateral shipping export channel. It has surpassed monthly volumes achieved during the UN- and Turkey-brokered Black Sea Grain initiative, which was subject to russian inspections, the UK Defense Intelligence reports.
Ukraine has achieved this because it has largely prevented the russian Black Sea Fleet from operating in the western Black Sea, where it is held at risk by Ukrainian missiles and unmanned surface vessels. Market confidence is supported by the UK-brokered reduction in insurance premiums through the Unity Facility insurance package and the announcement that Turkey, Romania and Bulgaria have formed a naval mine countermeasures force.
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The health of this export route is vital in the long term: both for Ukraine’s export revenue; and as a symbol that both sides are willing to suspend attacks on civilian shipping, paving the way to diminished risk and greater trade for all in the Black Sea.
Read more: The UK Defense Intelligence Explains Why russians Cannot Displace Ukrainian Forces from Left-Bank Kherson Region
