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European Investment Bank chief: Ukraine's post-war reconstruction may cost $1.1 trillion.

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“I’ve put the trillion out there because I saw figures in the public space that I consider completely unrealistic when I look at the level of destruction in Ukraine”, European Investment Bank President Werner Hoyer said, adding that Europe “will have to play the biggest role” in this effort.

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We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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Russia occupied and illegally annexed Crimea in 2014. In recent months, Ukrainian forces have increasingly targeted power substations, bridges, ferry crossings, air defenses, military logistics routes, and Russian vessels in the Black and Azov seas as part of a broader campaign to isolate Crimea.

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