Ukraine loses at least $80 billion since Russia takes Crimea

29 April 2014 10:06
(QHA) -

Ukraine has lost at least $80 billion since Russia annexed its southern Crimea region and the price tag will be much higher when Kiev includes lost profits and the value of possible energy reserves in the Black Sea.

Justice Minister Pavlo Petrenko said Kiev would press its case against Russia at the European Court of Human Rights and could take individuals to court for military crimes and those against its territorial integrity, Reuters reports.

"Any state property located on the territory of Crimea is the property of Ukraine and Russia bears the full liability for the losses incurred by state companies, ministries and departments," Petrenko told a news conference.

"Today the amount of such losses is 950 billion hryvnias. These losses do not include lost profits and the value of minerals."

Analysts estimate the value of such energy reserves, seen at 165.3 billion cubic meters of gas and 44 million metric tons of oil, at around $800 million to $1.2 billion.