Ukraine's War Damages in ‘Trillions,’ Official Says

The deputy head of Ukraine’s Presidential Office said Russia must pay for its actions, adding that efforts are underway to confiscate around $300 billion in frozen Russian assets. Make us preferred on Google Share Facebook X (Twitter) LinkedIn Bluesky Email Copy Copied The deputy head of Ukraine’s Presidential Office Iryna Mudra (Photo by Iryna Mudra/Facebook) Content Share Facebook X (Twitter) LinkedIn Bluesky Email Copy Copied Flip Make us preferred on Google Ukraine’s total losses from Russia’s war in Ukraine could exceed $1 trillion, Deputy Head of the Presidential Office Iryna Mudra said. Mudra, in an interview with the local outlet European Pravda published on Tuesday, said the combined damage to citizens and businesses in Ukraine could reach “tillions” of dollars. Follow our coverage of the war on the @Kyivpost_official . “Together with private business, together with citizens, we can talk about amounts in the trillions of dollars,” she said. Mudra said Russia must pay for its actions, adding that efforts are underway to confiscate around $300 billion in frozen Russian assets. “If at least most of these funds are transferred to a compensation fund, this would provide a fast and legal source for payouts,” she said. She also said it is important to establish an international compensation commission involving at least 35 countries. “In that case, securing compensation would not be Ukraine’s responsibility alone, but that of all participating states,” Mudra added; Ukraine ratified the convention to set up the commission on April 30. According to her, World Bank estimates put Ukraine’s total losses at over $650 billion as of 2024, including around $14 billion in damages caused by the destruction of the Kakhovka Hydroelectric Power Plant. Ukraine’s total economic losses since the start of Russia’s full-scale invasion are estimated at $1.7 trillion in lost revenue and $600 billion in lost value, according to a March assessment by the Kyiv School of Economics (KSE) Institute. Other Topics of Interest China Seeks Return of Captured Soldiers in Ukraine The two Chinese nationals captured by Ukraine after fighting for Moscow remains in Kyiv’s custody a year after their capture. Losses in value added alone exceeded Ukraine’s pre-war GDP in 2021 by more than three times. The previous estimate from July 2024 stood at $1.164 trillion in lost revenue and $385.7 billion in value added. The increase reflects updated methodology, new company-level and sectoral data, and an extended assessment period through the end of 2026. The largest losses are concentrated in key productive sectors: trade ($696.3 billion), industry, construction and services combined ($645.6 billion) and agriculture ($81.9 billion). Significant losses were also recorded in energy ($75.3 billion) and transport ($60.2 billion). The assessment was conducted by the KSE Institute in cooperation with Ukraine’s Ministry for Development of Communities and Territories, the National Bank of Ukraine (NBU), and other government bodies, using World Bank methodology. Kyiv Post is Ukraine’s first and oldest English news organization since 1995. Its international market reach of 97% outside of Ukraine makes it truly Ukraine’s Global – and most reliable – Voice.