Ukraine is finalizing a scheme to insure grain ships sailing to and from Black Sea ports with the participation of leading insurance companies.

Ukraine’s Deputy Minister of Economy Oleksandr Hryban announced this in a statement, the CFTS portal reports, citing the APK Inform publication.

According to the minister, the relevant agreement is "currently being studied and actively discussed" between the relevant ministries, local banks, and international insurance groups, including Lloyd's of London.

Hryban also suggested that the scheme could come into effect as early as next month, with 5–30 vessels passing through the "dangerous place in Ukrainian waters" per month.