Sunday, June 26, 2022
Homesmart lifeUkraine's richest man plans to sue Russia for huge losses

Ukraine's richest man plans to sue Russia for huge losses

© Reuters. FILE PHOTO: A view exhibits the gates of the Illich Metal and Iron Works broken throughout Ukraine-Russia battle within the southern port metropolis of Mariupol, Ukraine April 15, 2022. REUTERS/Alexander Ermochenko/File Picture/File Picture

KYIV (Reuters) – Ukraine’s richest man says he plans to sue Russia over what he stated was $17 billon to $20 billion in losses brought on by its bombardment of metal vegetation he owns within the devastated metropolis of Mariupol.

The Azovstal steelworks suffered heavy harm from Russian bombing and shelling after the sprawling plant grew to become the final bastion of defence within the southern port metropolis. The Illich Metal and Iron Works, additionally owned by Akhmetov, was additionally badly broken throughout Russian shelling of Mariupol.

“We will certainly sue Russia and demand correct compensation for all losses and misplaced enterprise,” Rinat Akhmetov, who owns the largest Ukrainian steelmaker Metinvest, informed Ukrainian information portal mrpl.metropolis in an interview.

Requested how a lot cash Metinvest had misplaced due to the harm to Azovstal and Illich, he stated: “The substitute price … on account of Russian aggression is from $17 to $20 billion. The ultimate quantity might be decided in a lawsuit in opposition to Russia.”

Billionaire Akhmetov had already seen his enterprise empire shattered earlier than the warfare by eight years of preventing in Ukraine’s east after pro-Russian separatists took over swaths of territory there.

Since Russia’s invasion on Feb. 24, Metinvest has introduced it can’t ship its provide contracts. Whereas Akhmetov’s monetary and industrial SCM Group is servicing its debt obligations, his non-public energy producer DTEK has restructured its debt portfolio, he stated.

Akhmetov stated he had remained in Ukraine because the warfare with Russia started, including: “We consider in our nation and consider in our victory.”

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