Insurance market Lloyd’s of London on Friday announced insurance for ships carrying food from Ukraine via freshly-agreed Black Sea corridors, removing a barrier to getting crucial exports underway.
British Foreign Secretary Liz Truss said it was “an important step in ensuring grain exports can leave Black Sea ports following the vital U.N. agreement last week.”
One of the key concerns after Russia, Ukraine, Turkey, and the U.N. signed a deal last week to reopen Black Sea ports blocked by five months of war was around providing security assurances to traders concerned about navigating the mined waters.
Lloyd’s said its new export facility will allow vessels transporting grain and other food products from Ukrainian ports to have reliable coverage in place for their voyages….