Economy Ministry: Unblocking ports will bring Ukraine $1B in foreign currency revenues every month

Economy Ministry: Unblocking ports will bring Ukraine $1B in foreign currency revenues every month

The resumption of agricultural exports from Ukrainian ports will bring $1 billion in foreign currency revenue every month.

"The agreement, which unblocks opportunities for Ukrainian grain exports, guarantees us a significant inflow of foreign currency earnings. We expect at least $1 billion a month for a certain period of time," First Deputy Minister of Economy of Ukraine Denys Kudin said during the nationwide telethon, an Ukrinform correspondent reports.

He emphasized that the unblocked ports together with government programs to stimulate business development would ensure the economic stability of Ukraine.

On July 22, an agreement was signed on exports of grain and other foodstuffs from the Ukrainian ports following a quadripartite meeting in Istanbul between Ukraine, Turkey, the United Nations, and Russia.

Read also: 'Grain corridors' for 120 days: details of agreements signed in Istanbul

Two mirror agreements in trilateral format were signed. The agreement was signed by Infrastructure Minister Oleksandr Kubrakov on behalf of Ukraine, UN Secretary General António Guterres on behalf of the UN, and Defense Minister Hulusi Akar on behalf of Turkey. Russian Defense Minister Sergei Shoigu signed the agreement in the same format on behalf of Russia.


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