Vessels downtime due to Russia's "maritime" sabotage cost farmers more than US$1 billion

As a result of Russia's sabotage of the work of the "grain initiative", Ukraine suffered losses of more than US$1 billion due to the downtime of ships in queues.

Source: Mykola Horbachov, President of the Ukrainian Grain Association (UGA), as Interfax-Ukraine reports

Details: He specified that these funds were not actually received by Ukrainian agricultural producers.

Quote: "This is the money that the traders paid to the owners of the ships for the fact that the ships stood in the queue for a very long time," he explained.

As Ekonomichna Pravda previously wrote, the cost of a vessel's downtime depends on its tonnage and cargo. However, the approximate cost of one day of downtime for an average-sized vessel is US$20,000, i.e., about US$600,000 per month.

Although the trader actually pays for this, he later embeds these costs into the purchase price for the farmers, as a result of which the farmers do not receive the funds they need to finance their work.

Background: For almost a month, the Russian side has been blocking the incoming fleet at the Pivdenniy port. In addition, 14 stevedores of the Pivdenny port appealed to President Volodymyr Zelenskyy with a request to help solve the issue of Russian sabotage of the port.

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