Ukraine bank expects Black Sea grain corridor to remain closed

The bank expects it will reopen once the war has ended
calendar icon 27 July 2023
clock icon 1 minute read

Ukraine's central bank said on Thursday it expected the Black Sea grain corridor to remain closed until the end of Russia's war on its neighbour, reported Reuters.

Deputy governor Serhiy Nykolaichuk said the central bank's latest basic economic forecast had been drawn up with the expectation that the corridor, established under a UN-brokered deal that Moscow quit last week, will remained close.

He told a press conference after Ukraine announced its first interest rate cut since June last year that alternative export routes via Central Europe would be key for Ukraine's grain sector.

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