Ukraine’s richest man demands Russia to compensate him for destroying steel plants

Rinat Akhmetov, Ukraine’s richest person, says his company plans to take legal action against Russia for the damages it sustained during the country’s ongoing invasion of Ukraine.

Akhmetov, owner of SCM Holdings Limited, said in an interview with the news site The New Voice of Ukraine of Ukraine in Ukraine that his company will seek to recover damages to steel plants allegedly caused by the Russians. He noted that his company had already initiated the necessary legal work in order to obtain compensation from the Russian government.

Akhmedov said that the destruction of his facilities led to losses estimated at billions of dollars. However, he added that the final amount has yet to be determined, according to an English translation of his interview with NV.UA.

The Russian invasion was devastating to the Ukrainian economy. CNBC reported on Wednesday that the World Bank has estimated that the country’s economy could decline by 50 percent this year. CNBC added that Ukrainian officials have estimated the cost of rebuilding from damages will be approximately $600 billion, but some officials have indicated that the $600 billion figure is only a fraction of what the entire rebuilding will cost.

Like Akhmetov, Ukraine’s Foreign Minister Dmytro Kuleba has a similar plan on where to get this money.

“I don’t think American or German taxpayers or any other taxpayers in the world should pay for what Russia did,” Kuleba told CNBC. “There is an alternative way to get Ukraine back, (ie) make Russia pay for it.” .

When asked about his future plans and whether his company plans to reinvest in Ukraine after the end of the Russian invasion, Akhmetov told NV.UA, “We will continue to invest in Ukraine.” He added that his company had two main priorities to focus its activities after the war: “renewing industrial capabilities and ensuring energy independence”.

Akhmetov, in the interview, went on to describe Russia’s actions in Ukraine as “genocide and war crimes.”

He told the outlet: “On February 24, Russia launched a terrible war in Ukraine. It attacked our country for no reason, and the Russian army killed tens of thousands of civilians, children, women and the elderly, and destroyed the infrastructure of our country.” According to an English translation.

In the interview, Akhmetov, when asked about his difficult relationship with some US officials, expressed his appreciation for what the US did to Ukraine during the Russian invasion.

“The United States is an ally of Ukraine. As time has shown, this is a great friend of Ukraine, and I am personally grateful to him for the unprecedented assistance to our country,” he told NV.UA.

NEWSWEEK I contacted the Russian Foreign Ministry for comment.