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War Risk Insurance for Commercial Vessels Supporting Ukraine Trade

New rules aim to facilitate the transport of goods to and from Ukraine by offering war risk insurance for commercial vessels. This is intended to aid Ukraine's economic recovery and ensure stable food supplies, potentially impacting commodity prices and product availability.
Key points
Commercial vessels transporting goods to or from Ukraine will be eligible for special war risk insurance for 5 years.
An "Insurance for Ukraine Initiative" will be established within the State Department to support Ukraine's economic recovery and encourage investment.
The U.S. will seek to develop a multilateral insurance mechanism for grain and commodity shipments from Ukraine, potentially stabilizing global food markets.
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Introduced
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Additional Information
Print number: 119_HR_3973
Sponsor: Rep. Keating, William R. [D-MA-9]
Process start date: 2025-06-12
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Ukraine War Risk Insurance Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_3973.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-06-12.

What are the main provisions?

Key points include:

  • Commercial vessels transporting goods to or from Ukraine will be eligible for special war risk insurance for 5 years.
  • An "Insurance for Ukraine Initiative" will be established within the State Department to support Ukraine's economic recovery and encourage investment.
  • The U.S. will seek to develop a multilateral insurance mechanism for grain and commodity shipments from Ukraine, potentially stabilizing global food markets.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Keating, William R. [D-MA-9].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Economy Transport Security