Risoil S.A. has announced the resumption of work of joint venture Risoil Terminal LLC in Chornomorsk seaport (Odesa region) after the blocking of its work by the officers of the Prosecutor General's Office (PGO) and the National Police from October 5 due to searches.

"The terminal was unblocked at about 13:00 on October 12," the press service of the group of companies reported.

As reported, Risoil earlier said the PGO and the National Police had blocked the work of its grain terminal in Chornomorsk seaport from October 5. For this reason, customs clearance of goods and, accordingly, shipments from the terminal were complicated.

The press service of Risoil reported that law enforcement officers without appropriate documents tried to seize about 3,000 tonnes of grain, which was stored in the terminal. Suspicion was caused by the activities of one of the exporters.

As of October 10, Risoil estimated idle time losses at approximately $200,000.

In addition, the company said an investment project worth more than $70 million was under threat. The final amount of damage will become known when a claim for compensation is filed.

Risoil S.A. was established in Geneva (Switzerland) in 2000. Its core business is logistics of oil, bulk and general cargo in the ports of the Black Sea, sale and production of vegetable oils, trade in grains and oilseeds in containers, storage and processing of agro-industrial products.