Ukraine's Central Bank Says Current Port Disruption More Manageable Than 2022 Blockade
The National Bank of Ukraine (NBU) reported that the current disruption to seaport operations due to Russian attacks is more manageable than the 2022 naval blockade. According to the NBU's Inflation Report, this is thanks to the development of alternative export routes and the agricultural sector's adaptation.
The disruption began on July 23 when vessel calls to the Big Odesa port stopped following large-scale Russian attacks on port infrastructure and civilian vessels. Rail shipments of grain to Black Sea ports also dropped sharply.
The NBU estimates that these alternative routes will handle around 2.5 million metric tons of agricultural exports per month between August and October, despite capacity being constrained by low water levels on the Danube. However, export volumes are expected to increase from November.