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Former United States Ambassador to Ukraine William B. Taylor Jr, now the vice president at the U.S. Institute for Peace in Washington, gave the figure during the first Parliamentary Summit of the International Crimean Platform.
The topic of Russia paying reparations for the damage caused to Ukraine's economy and infrastructure has surfaced frequently since the beginning of the full-scale invasion in February.
According to estimates released on Oct. 21 by the Kyiv School of Economics, Russia's war against Ukraine has already caused $127 billion worth of damage to Ukrainian private property, businesses, and infrastructure. While Russia's readiness to pay reparations itself remains a distant prospect, many have proposed repurposing for the reconstruction of Ukraine the frozen offshore assets of the Russian Central Bank, said to be valued at around $300 billion.
In May, Ukrainian President Volodymyr Zelensky valued the damage at $600 billion.