The top economic adviser to the Ukrainian government, Oleg Ustenko, said at a Peterson Institute for International Economics virtual event that the economic costs of relentless russia’s bombardment on Ukraine’s reached USD 100bn.
Ustenko called for a full oil and gas embargo from russia. “The situation is a disaster that is really much deeper than somebody can imagine. What is really needed to be done is to introduce a full embargo worldwide on russian oil and gas. This is blood money.” he stressed.
According to him, Ukraine’s business sector has been crippled, with 50% of businesses not operating and those that are running at less than full capacity. He added that the cost of rebuilding that Ukraine will face will be vast.