War has already cost Ukraine $700 billion in damage, PM says

3 January, 11:07 PM
Denys Shmyhal (Photo:Denys Shmyhal/Telegram)

Denys Shmyhal (Photo:Denys Shmyhal/Telegram)

Russia’s full-scale invasion of Ukraine has already caused $700 billion in damage, Ukrainian PM Denys Shmyhal said during a cabinet meeting on Jan. 3.

Shmyhal noted that at the beginning of June 2022, that amount was estimated at around $350 billion.

“Given the latest attacks on our infrastructure, today this amount exceeds $700 billion,” the PM said.

He added that Kyiv, together with the World Bank, plans to conduct another thorough verification of exactly how much funding Ukraine would need to recover after the war.

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On Nov. 14, UN General Assembly passed a resolution holding Russia accountable for its actions in Ukraine and liable for reparations.

In September, Shmyhal stated that the government hopes to receive about $300-500 billion of frozen Russian assets across the world, and use those funds to rebuild the country.

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