MOSCOW, August 5. /TASS/. The shutdown of Ukraine's maritime export corridor due to the port blockade threatens half of the country's iron ore supplies, the Insider publication reported.

The local media outlet notes that the industry's largest enterprises, including the Poltava and Yuzhny Mining and Processing Plants, have already suspended operations. Alternative routes via the Danube and European ports are more expensive and cannot provide the required capacities, putting approximately 1 million tons of ore exports per month at risk.

According to the publication's estimates, Ukraine could lose $60-70 million in foreign exchange earnings monthly, while iron ore production could plunge by up to 40%. The situation is further exacerbated by EU quotas, weak demand, rising fuel prices, and increased rail tariffs.

On July 22, Ukrainian Minister of Agrarian Policy and Food Taras Vysotsky announced that ship calls to Ukrainian ports had been suspended by carriers. Danish shipping company Maersk subsequently announced the redirection of cargo shipments to the Romanian port of Constanta. Following a series of explosions in the Odessa region, Ukrainian national railway operator Ukrzheldoroga began restricting cargo shipments to Odessa ports, while Swiss mining company Ferrexpo, whose main production facilities are located in Ukraine, suspended its Black Sea exports.