Insurance halted for Ukraine grain shipments 'after Russia suspension'

Ships entering the three ports are usually required by their banks to have various insurance policies in place including hull and cargo war cover

While shipments have been moving out of Ukraine since Moscow's weekend announcement, insurers are grappling with a changed risk environment and more uncertainty, sources said.

Insurers are no longer offering new cargo insurance cover for shipments out of Ukraine through a UN-backed safe corridor after Russia suspended its participation, industry sources have said. 

An export deal, agreed by Russia and Ukraine and brokered by Turkey and the United Nations in July, was meant to ease a world hunger crisis caused in part by Moscow's invasion of Ukraine and an earlier blockade of its ports.