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Ukraine estimates losses from Russian occupation of Crimea at $118 billion.

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Prime Minister Denys Shmyhal said during the international Crimea Platform summit that the peninsula has turned into a huge military base in eight years of the Russian occupation.

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The Kyiv Independent news desk

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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Seaborne crude flows averaged 3.12 million barrels a day over the four weeks to July 6, a 3% decline from the previous period ending June 29, according to tanker-tracking data compiled by Bloomberg. That's the lowest level recorded since the four-week period ending Feb. 23.

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