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Ukrainian government estimates damages from the Russian invasion to be $1 trillion, plans to seek reparations

In the war unleashed by Russia, Ukraine has sustained material damages to the amount of over $1 trillion, writes TSN quoting Ukrainian prime minister Denys Shmygal. His estimate includes both the destroyed infrastructure and the losses incurred by the nation’s economy, such as lost profits and withdrawn investments. It also takes into account economic losses anticipated in the next few years. According to the prime minister, a month of war with Russia has decimated the Ukrainian economy by about 35 percent. “Before the war, we'd had plans for national economic growth. By now, the enterprises that were expected to contribute to the budget have been destroyed. Therefore, our plans will of course require considerable adjustment after the war,” said the Prime Minister.

As Denys Shmygal explained, the overall value of blown-up bridges, roads, residential buildings, and other facilities has reached $120 billion. “If we factor in the loss of military infrastructure and civil expenditures, the total exceeds $270 billion,” he added.

Earlier, Oleg Ustenko, advisor to the President of Ukraine, insisted that Russia would be looking at decades of reparation payments and that seized assets available in Russia may not be sufficient for a complete recovery of Ukraine’s economy.

“We anticipate multi-billion lawsuits against the Russian state from independent entrepreneurs, which would be treated as a class action, and from individuals,” writes Obozrevatel quoting Ustenko.

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