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Black Sea Blockade: Ukraine Loses Billions as Shippers Flee Odesa
🇸🇮 Slovenia /Economy & Trade

Black Sea Blockade: Ukraine Loses Billions as Shippers Flee Odesa

From Delo · () Slovenian

Translated from Slovenian, summarized and contextualized by DistantNews.

At a glance

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  • Russia's attacks on Ukrainian infrastructure, including warehouses and distribution centers, have caused significant economic damage, with one estimate placing losses at $500 million in recent weeks.
  • A new Russian tactic targeting civilian cargo ships in the Black Sea threatens a larger portion of Ukraine's economy, impacting trade and potentially leading farmers to skip winter sowing.
  • The disruption extends to essential services, with empty shelves appearing in Kyiv supermarkets and postal services facing repeated attacks.

Kyiv's supermarket shelves, once consistently stocked, are now showing empty spaces. Russian missile strikes have hit vital infrastructure, including a warehouse supplying a prestigious store and distribution centers for a major supermarket chain, resulting in worker fatalities. Even Nova Poshta, a private postal service crucial for many Ukrainians, has been repeatedly targeted.

Dmitro Krymsky, co-founder of Goodwine, estimates that Russian attacks have cost Ukrainian businesses approximately $500 million in the last three weeks. However, a more alarming development is Russia's new strategy of targeting civilian cargo ships using Ukrainian Black Sea ports. This poses a significant threat to an even larger segment of the country's economy.

If this year's harvest cannot be sold, farmers will probably skip winter sowing entirely.

— Oleksiy LisitsaPresident of the Ukrainian Agribusiness Club, commenting on the potential impact of the Black Sea blockade on agriculture.

If the current year's harvest cannot be sold, farmers may forgo winter sowing altogether, according to Oleksiy Lisitsa, president of the Ukrainian Agribusiness Club. The broader economic damage is not confined to Ukraine, as shipping companies are reportedly fleeing Odesa, and the blockade of the Black Sea is costing Ukraine billions.

Russian attacks in the last three weeks have cost Ukrainian businesses approximately $500 million.

— Dmitro KrymskyCo-founder of Goodwine, estimating the economic damage from recent strikes.
DistantNews Editorial

Originally published by Delo in Slovenian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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