Ukraine’s losses from the war exceed $1 trillion — Office of the President

Deputy Head of the Office of the President of Ukraine Iryna Mudra reported that the total losses incurred by Ukraine as a result of the full-scale aggression of the Russian Federation may already exceed $1 trillion. This amount takes into account the losses of private businesses, citizens, and the state.

This is reported by AgroReview

Compensation Fund and Frozen Russian Assets

According to Iryna Mudra, active work is currently underway on the issue of confiscating about $300 billion of frozen Russian assets. She emphasized that transferring the majority of these funds to a special compensation fund would become a quick and legal source for future payments to those affected by the war.

“If at least the majority of these funds can be transferred to the compensation fund – it will be a quick, legal source for these compensations. I will also explain why the establishment of a compensation commission, which includes at least 35 states (and we expect more), is so important for us. Because then the search for funds for compensation becomes the responsibility not only of Ukraine but of all 35 participants,” said the Deputy Head of the Office.

Damage Estimates and the Role of International Partners

Iryna Mudra emphasized the importance of creating an international compensation commission, which has already been joined by at least 35 countries. This will allow the search for funding to become a shared responsibility of all participants, not just Ukraine.

According to the World Bank, as of 2024, the total amount of Ukraine’s losses from the war has reached over $650 billion. Specifically, the destruction of the Kakhovka Hydroelectric Power Station alone caused damages of $14 billion, highlighting the scale of infrastructure and economic losses in the country.

Ukraine continues to work on attracting international support for compensation of losses and holding Russia accountable for the crimes committed during the aggression.