Ukraine reconstruction cost estimated at $750 billion – some could come from seized Russian assets: July 4 recap : This story appears on the breaking news from Ukraine for July 4th. For the most up-to-date information, visit this page.
Rebuilding costs for the devastated Ukraine following the conflict is currently estimated to be an astounding $750 billion but some of the funds could be derived from the source of the destruction.
In the same way he’s requested the international community to help in the fight to stop an attack from the Russian invading force, Ukraine President Volodymyr Zelenskyy said at that at the Ukraine Recovery Conference at Switzerland that a global effort would be required to restore the country.
Ukraine reconstruction cost estimated at $750 billion
“The reconstruction of Ukraine is not a local project, is not a project of one nation, but a common task of the entire democratic world — all countries, all countries who can say they are civilized,” Zelenskyy stated in an online video message. “Restoring Ukraine means restoring the principles of life, restoring the space of life, restoring everything that makes humans humans.”
Ukrainian Prim Minister Denys Shmyhal was at the event in Lugano in person, gave the figure of $750 billion and unveiled a plan of recovery for both the immediate and the long-term.
Shmyhal also stated that a major source of money “should be the confiscated assets of Russia and Russian oligarchs,” which, he added, could currently be between $300 billion to $500 billion.
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The Ukrainian President Volodymyr Zelenskyy has expressed gratitude to the International Olympic Committee for supporting the ban of Russian athletes from participating in all Olympics sports. Russia is scheduled to have an appeal hearing on Tuesday, challenging its exclusion from playing international football at the Court of Arbitration for Sport in Lausanne, Switzerland.
Pope Francis, who has declared a rebuke to the “ferocity and “cruelty of Russian troops in Ukraine He said he would like for a visit Moscow and Kyiv during his trip to Canada July 24-30.
Putin announces victory Luhansk province, and orders that troops rest.
Russian president Vladimir Putin declared victory in the Ukrainian war for Luhansk province on Monday, and declared a rest day for his troops prior to advancing in the Kremlin’s effort to take control of the whole Donbas industrial zone.
“Military units that took part in active hostilities and achieved success and victory should rest, increase their combat capabilities,” Putin stated on state television.
Russian Defence Minister Sergei Shoigu reported that Russian forces have taken control of Lysychansk which is the last significant city located in Luhansk. The Ukrainian military earlier said the need to pull out due to the advantages of Russia in aviation, artillery, ammunition, and personnel. In the event that it continued to stand by, it would result in “fatal consequences” for its soldiers, according to the military in a post on Facebook.
“We just gotta keep on fighting,” the article declared. “Unfortunately, steel will and patriotism are not enough for success. Material and technical resources are needed.”
The war persists to exert a “devastating influence’ upon Ukraine’s agriculture exports
Despite Russia’s assertions contrary to its claims the invasion is producing “a devastating effect on Ukraine’s agriculture according to according to the British Defense Ministry said in its most recent intelligence report.
The ministry noted that they believe that Russian blockade of Odesa, the most important port Odesa located in Odesa in the Black Sea is severely limiting Ukraine’s capacity to export grain as harvesting has started. Additionally, the conflict has affected the supply chain of fertiliser and seeds that farmers utilize.
The combination of these two factors will likely reduce Ukraine’s exports of agricultural products this year to less than 35% than what they were in 2021, according to the ministry and pointed out that the dramatic decreases from a major wheat producer contributes to the worldwide food crisis.
Russian military does not have’modern, accurate’ weapons’
Russia’s growing use of old weaponry in numerous dangerous attacks could be evidence that the military isn’t equipped with more precise advanced weapons, experts in the field suggest.
Russian bombers are making use of KH-class missiles dating to the 1960s that were made to hit aircraft carriers, using nuclear warheads and cannot precisely hit ground targets, according to officials. The missiles were used in two separate attacks on the same shopping mall and an apartments this week, resulting in numerous civilian deaths.
“Russia continues to employ air-launched anti-ship missiles in a secondary land-attack role, likely because of dwindling stockpiles of more accurate modern weapons,” the British defense ministry announced in a tweet.
Both Russia as well as Ukraine have expended huge amounts of weapons in a brutal battle for control of east Donbas region. US President Joe Biden said last month that the U.S. would provide Ukraine long-range precision rockets but it’s not certain what difference they’ll bring.
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