Data showed that around 30 ships docked near the vital Ukrainian port of Izmail after Russia destroyed grain warehouses on the Danube River on Monday. However, it was not clear exactly why they had stopped. Russian airstrikes before dawn today injured seven people and damaged infrastructure on the Danube River, a crucial alternative route for Ukrainian grain exports after the end of a year-long agreement that allowed safe exports through the Black Sea. Kyiv stated that the attack was an escalation of an air campaign launched by Russia last week following its withdrawal from the grain agreement.
Sources in the insurance sector reported that war risk coverage for Ukrainian ports that were part of the previous grain agreement has been suspended. Three sources indicated on Monday that some insurance providers are considering whether to continue offering insurance coverage for Danube ports. One source stated, "The premiums for those still offering quotes (for the service) will increase." David Smith from McGill Insurance Brokerage noted that since the collapse of the grain agreement and the increased targeting of Russian ports and infrastructure, insurers against war risks are "forming their independent views and deciding what they are willing to insure." He added, "The difficulty here is that the cost of insurance for Ukraine, unlike insurable goods, cannot currently be determined according to a specific model."
After Russia destroyed Ukrainian grain warehouses, Odesa region Governor Oleh Kiper wrote on Telegram, "Russian terrorists attacked the Odesa region again last night. This time, the infrastructure of the ports on the Danube was the target." He added, "Russia seeks to prevent us from exporting any grains and to make the world starve."
Ukrainian officials provided limited details about the attack, and police indicated that "grain warehouses were bombed along with tanks used for storing other types of crops, causing a fire." Ukrainian Foreign Minister Dmytro Kuleba tweeted, "Russia is trying to extract concessions by holding 400 million hostages. I urge all countries, especially those in Africa and Asia most affected by rising food prices, to respond with a unified global response to food terrorism." Romanian President Klaus Iohannis tweeted, "This latest escalation poses serious risks to security in the Black Sea," adding that the attack occurred near the Romanian border.
