Businesses have lost almost US$8bn due to Russian attacks in 2026, says Ukrainian PM

The Ukrainian government estimates that businesses have lost US$7.7 billion as a result of Russian attacks in 2026 due to the destruction of premises, production facilities and goods in warehouses.

Source: Ukrainian Prime Minister Serhii Koretskyi in an interview with the BBC

Details: Koretskyi added that this already significant amount is continuing to grow.

Quote from Koretskyi: "Over the course of this year, over a million square metres of various types of property, especially warehouse and logistics facilities, have been destroyed or significantly damaged. Businesses are therefore reorienting themselves, and we are immensely grateful to them for this resilience, for the fact that, despite everything, solutions are being found."

Details: In addition, Koretskyi said, the government shares intelligence and information briefings with businesses on where the Russians are striking and what the consequences might be.

The prime minister also noted that at an online meeting with large businesses a few days ago, the government proposed a 1% VAT increase to set up a special compensation fund for war-related insurance risks.

However, there have been no large-scale consultations with businesses regarding the new rules for reserving employees from mobilisation – only small-scale ones. Koretskyi argued that this is because he himself comes from a business background and understands what life is like for entrepreneurs.

Background:

• The Cabinet of Ministers plans to establish a special fund to insure businesses against war-related risks, but value-added tax (VAT) may need to be raised by 1% to fund it.
• In late September, the Register of Damage for Ukraine opened all 43 categories of claims for compensation for damage caused by Russia's actions in or against Ukraine since 24 February 2022.

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