Uncategorized

Ukraine’s richest man intends to sue Russia for compensation

The Azovstal Steelworks and Illich Steelworks, jointly owned by Rinat Akhmetov, suffered heavy losses in the fighting and shelling in Mariupol. In which, the Azovstal factory was once considered the “last stronghold” of the Ukrainian army in Mariupol.

Ukraine's richest man intends to sue Russia for compensation - 1

The Illich Factory. (Photo: Reuters)

“We will definitely sue Russia and demand adequate compensation for all damages.”, Akhmetov said. He estimates the amount of money his business – Metinvest lost because of the Azovstal and Illich factories at about 17 to 20 billion USD.

“The final number will be decided in the case against Russia,” he said.

Billionaire Akhmetov’s business before the Ukraine conflict broke out has also suffered because of the fighting in eastern Ukraine. But when the Russian military campaign began, Metinvest was unable to fulfill the contracts on time.

Some of Akhmetov’s other businesses, meanwhile, had to restructure their debts.

According to The Guardian, the war has damaged Ukraine’s infrastructure at an estimated cost of $4.5 billion a week, as the fighting damaged or destroyed thousands of buildings and public utilities. and miles of roads. According to estimates compiled by the Kiev School of Economics (KSE) and, the total direct damage to infrastructure has reached $92 billion since the beginning of the conflict.

The researchers say that Ukraine is suffering heavy damage in terms of infrastructure and will be very expensive to repair or rebuild.

KSE says the total economic cost of the war – which includes damage to infrastructure along with an impact on GDP, investment shutdowns and the outflow of workers – could rise to $600 billion. , which is almost four times the country’s annual GDP value.

Meanwhile, the World Bank in mid-April estimated physical infrastructure damage at about $60 billion and this number is expected to continue to increase.

Last month, the International Monetary Fund said that Ukraine’s economy will probably shrink by about 35% this year. In addition, the loss of lives, damaged infrastructure and the migration of workers will hinder economic development for many years to come, even if the war ends soon. The IMF has provided $1.4 billion in emergency funding to help meet Ukraine’s immediate spending needs, while the World Bank is mobilizing about $2.5 billion worth of financial assistance.

You are reading the article Ukraine’s richest man intends to sue Russia for compensation
at Blogtuan.info – Source: vtc.vn – Read the original article here

Back to top button