The authorities of Ukraine estimated the losses from the military conflict with Russia at $1 trillion. Oleg Ustenko, adviser on economic affairs of the President of Ukraine, stated.
"According to Kyiv's estimates, we are talking about a direct loss of $750 billion. There are also indirect losses, which can make this number over $1 trillion," he said.
In July 2022, the Prime Minister of Ukraine Denis Shmygal announced that $750 billion are needed to restore Ukraine. He emphasized that the government is preparing an electronic map that will show all the damage done to the country. In his opinion, the main source of recovery "must be the accounts confiscated from Russia and Russian oligarchs".
At the same time, on February 1, the European Council approved the European Commission's proposal to use the proceeds from frozen Russian assets to finance aid to Ukraine. In addition, the European Union decided to allocate aid in the amount of 50 billion euros to Kyiv.
