Lloyd’s of London to Insure Grain Shipments out of Ukraine

A view shows silos of grain from Odesa Black Sea port, before a shipment of grain as the government of Ukraine awaits signal from U.N. and Turkey to start grain shipments, amid Russia's invasion of Ukraine, in Odesa, Ukraine, on July 29, 2022. Nacho Doce/Reuters

Insurance market Lloyd’s of London on Friday announced insurance for ships carrying food from Ukraine via freshly-agreed Black Sea corridors, removing a barrier to getting crucial exports underway.

British Foreign Secretary Liz Truss said it was “an important step in ensuring grain exports can leave Black Sea ports following the vital U.N. agreement last week.”