Russia caused damage of over US$56 billion to Ukraine's energy sector – Kyiv School of Economy

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As of May 2024, the damage caused to Ukraine’s energy sector in the full-scale Russian invasion is equal to US$56.2 billion.

Source: report by the Kyiv School of Economy

Quote: “As a result of Russia’s full-scale invasion of Ukraine, the energy sector suffered damage and losses of US$56.2 billion, while the recovery needs, which include the complete reconstruction of destroyed facilities on the principle of ‘Build Back Better’, amount to US$50.5 billion.”

Details: KSE estimates that direct damage in Ukraine’s energy sector as of May 2024 amounted to more than US$16.1 billion.

Reportedly, the largest losses were caused by the destruction of electricity generation objects (US$8.5 billion), transmission facilities (US$2.1 billion), and oil and gas infrastructure (US$3.3 billion).

The indirect losses of Ukraine’s energy sector are estimated at almost US$40.1 billion, with US$39.6 billion being lost revenues of energy companies. The remaining US$0.5 billion is the costs of debris removal and disassembly of damaged facilities.

Background:

  • The Ukrainian agrarian sector has suffered over US$80 billion of damage and direct losses as a result of Russia’s full-scale invasion of Ukraine.

  • On Thursday, 11 April, the Russians launched another attack on Kharkiv Oblast. A thermal power plant that supplied the city of Kharkiv with power was damaged in the attack, and a transformer substation was completely destroyed.

  • On the afternoon of 11 April the Russians launched an airstrike with guided aerial bombs on a thermal plant in the city of Sumy.

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