War destroys $100bn of Ukrainian assets: official

10 March 2022, 22:43 | Economy
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The Russian invasion has destroyed about $100 billion worth of roads, bridges and businesses in Ukraine to date, dealing a huge blow to its economy, a Kiev government official said Thursday..

“Currently, about 50 percent of our enterprises are not working, and those that are still working are not working at 100 percent,” Oleg Ustenko, chief economic adviser to President of Ukraine Volodymyr Zelensky, said..

“The situation in terms of economic growth will be really very depressing even if the war stops immediately,” he said in a virtual speech at the Peterson Institute for International Economics..

Ustenko reiterated his call to European and other governments to cut off Moscow's access to "

“Europeans are still paying this monster to kill our people, innocent people,” he said..

While European countries rely on Russian energy for heat, “I assure you, it is much, much, much colder in the bowels of Ukraine, where people are hiding.”.



The official praised the US for stopping Russian oil imports and expressed hope that Washington would also help create a "

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Kyiv could also draw on some $300 billion of Russian central bank reserves frozen under Western sanctions, as well as funds seized from oligarchs allied with President Vladimir Putin..

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The International Monetary Fund on Wednesday approved $1.4 billion in emergency assistance to Ukraine, and the World Bank this week disbursed almost $500 million of what is expected to be a $3 billion financing package..

In addition, the US Congress on Wednesday approved $14 billion in aid to Ukraine..

But Ustenko said: " It's critical."




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