Romanian ports dealing with an increase in trade flows from Ukraine due to Russia’s war in the country will benefit from a state aid scheme the European Commission approved on Thursday.
Set to remain in effect until 31 December 2024 and valued at €126 million, the state aid’s main objective is to facilitate and fortify trade connections between Romania and Ukraine, in line with the goals outlined in the EU’s action plan for solidarity lanes.
According to the Commission’s decision, the aid will be disbursed in the form of grants and partly financed by EU cohesion funds, with individual amounts reaching up to €10 million, with primary beneficiaries of this financial support being logistics companies operating within Romanian maritime and inland ports positioned along the EU’s eastern border.
Some of the more worthy beneficiaries include Constanța, Galați, and Giurgiu, as crucial waterways such as the Danube-Black Sea Canal and the Sulina Canal. Also earmarked for assistance are the so-called “satellite” ports of Constanta-Midia and Mangalia.
Romanian ports have been vital for the flow of Ukrainian goods, with trade increasing since the war broke out in February of 2022.
For instance, the Black Sea port of Constanta shipped a record 36 million metric tons of grain in 2023, up 50% on the year, with Ukrainian shipments accounting for around 40% of the total, the port authority told Reuters.
Ukraine, for whom Constanta is the biggest alternative export route, shipped roughly 14 million tons of grain in 2023, up from 8.6 million in 2022.
(Cătălina Mihai | Euractiv.ro)
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Source: euractiv.com
