Ukraine's losses from Russian aggression could reach 750bn euros - Shmygal

Prime Minister Denys Shmyhal said this in the presence of European Commission President Ursula von der Leyen in Kiev.

The official said that the estimated cost of Ukraine's post-war reconstruction has already exceeded 600bn euros. Therefore, he said, Ukraine's "fast recovery" should start now, without waiting for Ukraine to win.

During the war, it is not possible to rebuild completely, but there is a need to rebuild quickly. We cannot not restore power, heating, water supply, hospitals and so on," Shmygal said, adding that Ukraine is already collecting funds for this, and insists that this process should be co-financed with Russian confiscated money. The rapid reconstruction stage is estimated to cost 17bn euros... 3.5bn has already been raised, we are negotiating about the rest.

According to Shmygal, as recently as the beginning of June the cost of reconstruction was estimated at 350 billion euros. By the beginning of 2023 we could be talking about 600-750 billion euros.