Ukrainian economic adviser says war damage tops $100 bn so far

14 Mar 2022 CW Team

On Thursday, top Ukrainian government economic adviser to Ukrainian President Volodymyr Zelenskiy, Oleg Ustenko told the media that the invasion of Russian forces has destroyed infrastructure, buildings, and other physical assets worth a minimum of $100 billion.

Chief economic adviser Ustenko in an online event by the Peterson Institute for International Economics said that the war has caused 50% of Ukrainian businesses to shut down entirely, when the other half is conducting operations at well below their capacity.

He said the estimated damage is "very approximate" which includes hospitals, bridges, equipment, roads, and other assets.

While addressing how the reconstruction effort is going to be financed, he told the media that part of it can come from Russian assets frozen throughout the world which includes Russian central bank assets that are held outside the country while being immobilised by Western sanctions. The seized assets belonging to Russian oligarchs can also be transferred to a reconstruction fund.

He said that the financial reserves of Ukraine are around $27.5 billion, which was around $30 billion before the invasion.

Despite the pressure on the hryvnia currency, Ukrainians can access cash via ATMs and supermarket cashiers in areas not occupied by Russian forces without the long lines seen in the initial two days of the war, credit cards, and other electronic payment systems are functioning normally.

Image Source

Also read: Indian steel mills step in to fill supply gap by Russia-Ukraine war

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..