Ukraine’s richest man announces plan to sue Russia

Azovstal Steel Plant suffered heavy damage from bombs and artillery shells of the Russian army. Illich Steel and Iron Works, also owned by billionaire Rinat Akhmetov, suffered a similar fate when Russia shelled Mariupol.

“We will definitely sue Russia and ask for adequate compensation for all losses and losses in business activities,” Akhmetov, who owns Ukraine’s largest steel producer Metinvest, confirmed in an interview. interview with portal Mrpl.city (Ukraine).

When asked how much Metinvest has lost because of the damage at the steel mills mentioned above, billionaire Akhmetov replied: “About 17-20 billion USD. The final number will be determined in the lawsuit.”

Billionaire Rinat Akhmetov, the richest man in Ukraine. Photo: Reuters

Before Russia launched a military campaign against Ukraine, the business of “steel tycoon” Akhmetov was already badly affected by eight years of armed conflict in Eastern Ukraine.

Since the Russia-Ukraine conflict broke out at the end of February 2022, Metinvest announced that it could not fulfill its contractual delivery obligations.

While billionaire Akhmetov’s financial and industrial conglomerate SCM Group is settling its debt obligations, his private power producer DTEK has restructured its debt portfolio.

Billionaire Akhmetov said he has remained in Ukraine since the outbreak of armed conflict with Russia, adding: “We believe in our country and our victory.”

Photo of Illich Steel and Iron Works steel factory in Mariupol city – Ukraine on April 15. Photo: Reuters