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So Far, the War Has Destroyed $100 Billion in Assets: Ukraine Government Official

As per a Kyiv government official, the Russian invasion has damaged around $100 billion in roads, bridges, and enterprises in Ukraine, causing a significant economic impact.

Currently, almost half of our enterprises are not running, and those that are operating are not operating at full capacity, according to Oleg Ustenko, chief economic counsellor to Ukrainian President Volodymyr Zelensky.


Even if the conflict ends soon, the scenario in terms of economic development would be quite gloomy, he stated in a virtual lecture to the Peterson Institute for International Economics.

Ustenko reiterated his appeal for European and other nations to cut Moscow off from “blood money” by boycotting Russian oil and natural gas.


The source complimented the US for suspending Russian oil supplies and expressed optimism that Washington will also contribute to the creation of a “recovery fund” for Ukraine.

Kyiv may potentially utilise the nearly $300 billion in Russian central bank reserves that have been frozen as a result of Western sanctions, as well as cash confiscated from billionaires who are Putin cronies.


According to him, they will have to restore the economy.

The International Monetary Fund authorised $1.4 billion in fast-track loans for Ukraine on Wednesday, while the World Bank released roughly $500 million of a $3 billion credit package this week.