KEATING, MCGOVERN, & QUIGLEY REINTRODUCE BILL TO PROVIDE WAR RISK INSURANCE TO COMMERCIAL VESSELS TRADING WITH UKRAINE

Washington, DC - Yesterday, Congressman Bill Keating, Ranking Member of the House Foreign Affairs Subcommittee on Europe, Congressman Jim McGovern, Ranking Member of the House Rules Committee, and Congressman Mike Quigley, co-chair of the Ukraine Caucus, reintroduced the Ukraine War Risk Insurance Act of 2025.

As Russia continues its illegal war of aggression in Ukraine, the United States must continue to provide vital support for Ukraine, hold Russia accountable for its aggression, and assemble the support of our like-minded allies and partners who recognize that the seizure of land through military force is illegal and immoral. As part of broader efforts to support Ukraine, the Ukraine War Risk Insurance Act would help increase Ukrainian exports, ensure the Ukrainian agriculture sector can effectively deliver its products to the global market, and strengthen Ukraine’s economy as it defends itself from aggression.

“The Ukraine War Risk Insurance Act would allow the U.S. government to provide vital war risk insurance to NATO and partner vessels importing cargo into or exporting cargo from Ukraine,” said Ranking Member Keating. “As Russia’s war of aggression continues, the United States must expand its support for Ukraine and we must do all we can to ensure Ukraine is able to export grain to the global market.”

“Ukraine’s fight is the world’s fight—and nowhere is that more evident than Russia’s malicious targeting of their ability to export grain, threatening food security for millions around the world,” said Congressman Jim McGovern. “The Ukraine War Risk Insurance Act would ensure Ukrainians can continue to participate in the global economy, and would provide critical insurance to those working to export grain and prevent starvation in food insecure areas around the world. Congress should pass this bill quickly to ensure that Ukraine can continue to fight back against Putin’s evil and unprovoked war of aggression.”

“Putin's unprovoked war has upended every aspect of life for Ukrainians—including their economy. Amidst a constant state of fear and unease, Russia has deliberately targeted Ukraine's thriving grain industry, limiting the country’s ability to export and threatening the food security of millions,” said Congressman Mike Quigley. “This legislation will counteract Putin’s malicious actions and help Ukraine increase its exports, strengthen its economy, and feed its people. This must be the first in many steps Congress takes to ensure Ukraine can continue its fight for freedom.” 

 Specifically, this legislation: 

• Expands eligibility for war risk insurance to NATO and Ukrainian vessels participating in waterborne commerce importing cargo to or exporting cargo from Ukraine.
• Establishes the Insurance for Ukraine Initiative to bolster confidence in Ukraine’s economic recovery, encourage investment in Ukraine’s economic recovery, promote closer economic integration with Ukraine, coordinate dialogue related to war risk insurance, and work with Ukraine and other partners to ensure the shipment of grain to and from Ukraine.
• Directs the Secretary of State to provide diplomatic and political support to countries that provide war risk insurance for Ukraine, and to pursue a multilateral insurance mechanism through the United Nations Food and Agriculture Organization to protect the shipment of grain and other commodities from Ukraine.

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