The Cabinet of Ministers of Ukraine has approved a decision to allocate 250 million UAH to the Ministry of Infrastructure from the reserve fund of the State Budget of Ukraine to ensure the safety of navigation in the waters of Ukrainian ports in the Danube region and railway transport. The funds will be kept in an escrow account of the Ministry of Infrastructure of Ukraine and, if necessary, will be provided to compensate for losses caused by russia's aggression against Ukraine.

"In the conditions of the blockade of all seaports of Ukraine, the load on Ukrainian Danube ports and railways has significantly increased. The state is interested in increasing the flow of goods and, accordingly, the work of business in the region. We take some of the risks to encourage companies to provide foreign vessels and rolling stock to increase import and export traffic.

"Due to the decision, carriers who have been denied risk insurance will be able to obtain the necessary financial guarantees. We expect that due to this we will be able to significantly increase the volume of traffic," - said Minister of Infrastructure Olexandr Kubrakov.

The following groups will be able to use the said mechanism:

owners and / or operators of rolling stock located on the territory of Ukraine and admitted to circulation by railways of European standard (1435 millimeters);

charterers, operators and / or owners of seagoing and inland waterway vessels located in the waters of Ukrainian ports in the Danube region and operating under the flag of Ukraine or under the flags of foreign countries.

The work has been done to agree on all the details of the financial support mechanism so that the guarantee process is as transparent and clear as possible.

It should be mentioned that the Ministry of Infrastructure created a similar insurance mechanism in February to ensure the safety of flights. Thanks to it, carriers were able to continue to operate flights within the country and to other destinations in the tense security conditions that preceded the full-scale invasion of russia.

Reference source: The Cabinet of Ministers of Ukraine