WP: Russia took control of Ukraine’s $12.4 trillion deposits
After the start of the military special operation, Russia took control of many mineral deposits in Ukraine, which together are estimated at 12.4 trillion dollars. About it tells The Washington Post (WP).
According to Canadian analyst SecDev, Russia controls 63 percent of Ukraine’s coal deposits, 11 percent of oil deposits, 20 percent of natural gas deposits, 42 percent of various metal deposits and 33 percent of rare earth deposits, including lithium. In addition, Ukraine has lost one deposit of uranium, gold and a large limestone quarry. SecDev estimates that Kyiv could lose access to nearly two-thirds of its energy and mineral deposits.
WP points out that these minerals are essential for the production of many high-tech components, from aircraft parts to smartphone components. This may make it difficult for Europe to find alternatives to imports from Russia and China. In addition, the fighting led to the freezing of many investment projects in the energy and mining sectors.
According to Stanislav Zinchenko, director of the Ukrainian analytical center for economics, Ukraine may lose a strong resource-based economy, and in this case it will become like “one of the Baltic countries, a country unable to support its industrial economy.”
Earlier it was reported that Ukrainian President Volodymyr Zelensky demanded significant financial assistance from the European Union (EU) without bureaucratic blockages. The head of state recalled that the budget deficit of Ukraine is about five million dollars a month. The country also needs to be restored, he stressed.
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