Business losses from Russian attacks reach almost US$8 billion, says Ukrainian prime minister

The Ukrainian government estimates business losses for 2026 at US$7.7 billion, encompassing the destruction of premises, businesses, production facilities and goods in warehouses as a result of Russian attacks.

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

Details: Koretskyi added that this significant amount continues to grow.

Quote from Koretskyi: "Over the course of this year, over a million square metres of various types of real estate, especially warehouse and logistics facilities, have been destroyed or significantly damaged. Therefore, businesses are 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 consequences this may entail.

The prime minister also noted that an online meeting with large businesses was held a few days ago, where the government advocated a proposal to raise VAT by 1% to form a special compensation fund for military insurance risks.

At the same time, 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 how entrepreneurs live.

Background:

• The Cabinet of Ministers plans to create a special fund to insure businesses against war risks, but funding it may require raising the value-added tax (VAT) by 1 percentage point.
• 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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