16.5 million tons of cargo have been delivered to global markets

CTS notes, 515 vessels have already left Ukrainian sea ports from the commencement of Black Sea Corridor functioning, as reported by Bridget A. Brink, the US Ambassador to Ukraine.

16.5 million tons of cargo have been exported to global markets.

Mrs. Brink notes, “As of January 17, 2024, 515 vessels have passed Black Sea Humanitarian Corridor and have delivered 16.5 million tons of grain and other cargos to global markets. This is the great achievement – to help business and employees and to give a chance for growth of the Ukrainian economy, despite terrible war outbroken by the Russian federation”.

Starting from August and till the end of December 2023, nearly 13 million tons of products have been exported to 24 countries through the Ukrainian temporary sea corridor.

Dmytro Ochkolias, associate attorney, advocate at Interlegal:

In view of intensive hostilities and obstacles caused by martial law, the most vital issue concerns renewal and functioning of the Ukrainian infrastructure. In accordance with national and international law, the state is entitled to take measures aimed to defend its interests and to secure national infrastructure safety. Therefore, the Black Sea Humanitarian Corridors is a crucial step aimed to facilitate safe and effective vessel traffic and cargo delivery through the Black Sea.

However, the state of war may also cause serious risks for investments and business activities. In this context, the current and adopted governmental guarantees regarding loss of investments may serve as an important tool aimed to encourage investors under indefinite conditions and war risks.

As of a certain legal support for port and adjacent infrastructure projects, that is quite a reasonable solution to apply to Interlegal law firm. Interlegal has vast experience in shipping & maritime law, being competent in settlement of issues related to port infrastructure functioning.In general, risk management, adoption of governmental guarantees and legal advice – that’s what may help business entities and investors to get adapted to complicated conditions of martial law and to keep economy stable.

Source – https://cfts.org.ua/news/2024/01/18/cherez_ukranskiy_koridor_u_chornomu_mori_proyshli_vzhe_515_suden_77878

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