EU Allocates €126 Million to Expand Romanian Ports for Ukrainian Export
The European Commission has approved the allocation of €126 million to Romania for investment in its ports. This financial support aims to help the ports cope with increased demand due to the growing export from Ukraine. The announcement was made on the European Commission's website.
"This initiative, partly financed from EU cohesion funds, will contribute to the functioning of the 'Ukraine-EU Solidarity Lanes' by facilitating trade flows to and from Ukraine," stated the European Commission.
Romania has informed the European Commission of its intentions to support companies operating in specific local ports by investing €126 million in additional facilities for handling and storing goods by the end of 2024. Grants of up to €10 million will be provided to logistics companies operating in Romanian maritime and inland ports.
As state aid in the EU is strictly regulated to ensure fair competition, Bucharest required the approval of the European Commission to implement such a scheme.
Following the full-scale Russian invasion of Ukraine and the blockade of maritime routes, Romania has become a crucial transit country for Ukrainian products. Its role has also heightened after the imposition of import embargoes on Ukrainian agricultural products by several Eastern European countries and the blockade of several border checkpoints between Ukraine and Poland.
According to Ukrainian authorities, monthly exports through Romania have increased from two to three million tons. Both sides are actively working to increase the capacity of border crossings to reach a volume of four million tons.
Earlier, The Gaze reported that Bulgaria, Romania, and Turkey intend to sign a trilateral agreement for joint demining operations in the Black Sea, leading to a corresponding mission.
Bulgaria's Ministry of Defence notes that the initiative remains open to joint actions and the participation of forces and resources from NATO member countries beyond the Black Sea region.
After signing the agreement, the process of operational planning will commence, aiming to develop detailed documents and demining instructions. This process may take several months.