Ukraine lost $ 100 bln due to Crimea annexation and Donbas war

Alan Reilly, researcher at Eurasia Center, Atlantic Council

This is stated in the study by the “Atlantic Council” called “Kremlin Aggression in Ukraine: the Price Tag”, which was presented in the Ukrainian crisis media center.

“Ukraine has lost 100 billion dollars after the Russian aggression in Crimea and the east of the country. Russia is to be held fully responsible for this part of the territory of Ukraine,” the study says.

The main material losses of Ukraine were land, energy assets, banks, business enterprises and housing.

The study notes that the cost of 1.4 million hectares of Crimean land is estimated at $ 1.8 billion. Ukrainian banks lost assets in Crimean branches for approximately $ 1.7 – 1.9 billion. Another $ 1 billion was lost by the Ukrainian authorities due to confiscation of “Krymenergo” by Russia.

In turn, due to the fighting in the east of Ukraine, a significant part of the infrastructure was destroyed, the report says. The losses, according to experts, amounted to $ 9.5 billion. Ukraine also lost $ 14 billion due to a decline in trade with Russia.

According to the research, Moscow spends $ 2 billion annually on Crimea, which is 0.14% of Russia’s GDP.

In early May, the international arbitration in The Hague ordered Russia to compensate Ukrainian companies $ 159 million for violating the rights of Ukrainian investors after the annexation of Crimea.

See also