Ukraine: Azovstal owner seeks $ 17-20 billion in compensation from Russia

Ukraine’s richest man, billionaire Rinat Akhmetov, has filed a lawsuit against Russia seeking $ 17-20 billion in damages for the damage caused by the bombing of Azovstal steel plant of Mariupol.

The Azofastal steel plant was severely damaged by Russian bombardment as the huge factory became the last stronghold of resistance in this southern port city. The Ilyich’s steel and iron plant, also owned by Akhmetov, was also severely damaged during the Russian bombing of Mariupol.

“We will file a final lawsuit against Russia and demand adequate compensation for all losses and losses of businesses,” said Rinat Akhmetov, who also owns Ukraine’s largest steelmaker, Metinvest, in an interview with the news site. .

Asked how much money Metinvest has lost from the Azovstal and Ilyich disasters, Akhmetov said that “the cost of replacement … due to Russian aggression ranges from $ 17 billion to $ 20 billion. The final amount will be determined in lawsuit to be filed against Russia “.

Billionaire Akhmetov had already seen his business empire crumble before the war over eight years of fighting in eastern Ukraine after pro-Russian separatists occupied parts of the country.

As of February 24, when Russia invaded Ukraine, Metinvest had announced that it would not be able to cover its supply contracts.

While Akhmetov’s financial and industrial group SCM Group is servicing its debt obligations, its private energy producer DTEK has restructured its debt portfolio, he said.

Akhmetov said he had remained in Ukraine since the start of the war with Russia, adding “we believe in our country and we believe in our victory.”