Navigation along temporary corridor in Black Sea suspended for one day, Kiev may extend ban

MOSCOW. Oct 26 (Interfax) - The vessel traffic to enter or leave the temporary sea corridor in the Black Sea declared by Ukraine was suspended on October 26, which will affect the purchase prices of exported products, the Barva Invest consulting company said in a forecast on Telegram.

"We would like to inform you about the temporary suspension of vessel traffic for entering and leaving [the corridor]. The current ban is valid on October 26, but it is not ruled out that it will be extended," Ukrainian media quoted the company as saying.

Barva Invest has drawn the attention of exporting companies to the fact that unexpected restrictions result in vessel idleness, and expects a negative business reaction to the lack of predictability.

Ukrainian media reported that they have filed a request to the Ukrainian Ministry of Community Development, Territories and Infrastructure to inform them how long the sea corridor will not operate and what impact this will have on the market. However, the ministry did not comment on the suspension of vessel traffic.

The Administration of Sea Ports of Ukraine said in the evening of October 25 that vessel traffic to and from the corridor would be suspended on October 26, 2023. This de facto suspension has been in effect for the past two days.