First Ukrainian President Leonid Kravchuk has admitted that the decision to create a joint-stock company on the basis of the Black Sea steamship line was a mistake that resulted into the loss of the merchant navy by Ukraine, Interfax informs.

"When we faced problems with the maintenance of the Black Sea steamship line, we had to seek a way out of the situation. We were on the verge of a crisis and inflation reached thousand percent, we were unable to maintain the Black Sea steamship line, and we decided to solve the problem and turn it into concern," he said on Channel 5 on February 2.

"We hoped we would not lose it, but decisions are not always clear and well-considered enough to say that we are doing the right thing for sure," Kravchuk said.



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