Russia’s Damage to Ukraine on May 11 — €500-600 Bln

by Olha Povaliaieva
Thursday, May 12, 2022
Russia’s Damage to Ukraine on May 11 — €500-600 Bln

The European Commission announced that the EU will cover a significant part of the costs of the post-war reconstruction of Ukraine

According to Politico, during a press conference, Valdis Dombrovskis named a preliminary amount for the restoration of Ukraine destroyed by Russia — about €500-600 bln. The amount is not final because the war is not over yet, and every day Russia brings more and more damage to Ukraine.

Rebuilding a shattered country will require a titanic effort and "will require coordination of the international community. And from the European Union side, we’re willing to do this coordination."

Valdis Dombrovskis also noted the necessary structural changes in Ukraine as a candidate for EU membership. Now the European Union is preparing a proposal that will become a link "support for infrastructure with structural reforms which Ukraine may need reconstruction as an EU candidate country."

We remind you that work on the creation of a trust fund for the restoration of Ukraine is already underway. One of the sources of replenishment of the fund will be the assets of Russian oligarchs and Putin's associates frozen by sanctions. The war is not over yet, and who knows: maybe Kabaeva’s assets will also end up in the Solidarity Fund of Ukraine.

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