Ukraine approves procedure for compensations to ship owners, charterers, excluding Russian, Belarusian citizens

MOSCOW. April 1 (Interfax) - Ukraine has approved the procedure for compensating the damage done to foreign and Ukrainian charterers, operators and owners of sea and inland waterways ships in the national territory.

The government made the decision on Friday, Ukrainian media said, citing Government Representative to the Verkhovna Rada Taras Melnichuk.

He said the compensations of up to 2 billion hryvni from the national budget's reserve fund would be paid to ships that transported non-military cargo to and from open Ukrainian seaports or called on such ports after January 1, 2024.

It was pointed out that Russian or Belarusian citizens, as well as legal entities registered in Russia or Belarus that served as the beneficiaries, owners or ship owners were not entitled the compensations.

Sanctioned individuals and legal entities do not qualify for the compensations either.

As reported, the 2024 budget cut the allocations for civilian ship insurance ten-fold to 2 billion hryvni.