Crimea cost Ukraine over $10 bln in lost natural resources-minister

KIEV, April 7 Mon Apr 7, 2014 2:41pm BST

KIEV, April 7 (Reuters) - Ukraine's ecology and natural resources minister estimated on Monday that Kiev had lost natural resources and related assets worth 127 billion hryvnias ($10.8 bln) when Russia annexed the Crimea region.

Andriy Mokhnyk told a news conference that Ukraine intended to go to court to try to recover the money, his spokeswoman confirmed. "Ministry staff have assessed the market value of the resource base for Crimea. According to preliminary estimates, it was 127 billion hryvnias," he said. (reporting by Natalia Zinets, writing by Elizabeth Piper, editing by Timothy Heritage)

Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.