Russia-Ukraine Invasion: War to slash Ukraine’s GDP 45 percent, Russia 11

Russia’s invasion has shuttered businesses, slashed exports, and destroyed productive capacity, the World Bank says.

A World Bank report estimates that more than half of Ukraine’s businesses are closed, while others still open are operating at well under normal capacity.

According to a World Bank forecast, Ukraine’s GDP output will contract by more than 45 percent this year as a result of the Russian invasion.

The World Bank also forecast Russia’s GDP output to fall by at least 11 percent as a result of punitive sanctions.

Volodymyr Zelenskyy has criticised NATO and the United Nations in an interview on CBS’ 60 Minutes for doing very little to help Ukraine in the invasion.

“When you are [working] at diplomacy, there are no results. All this is very bureaucratic… I don’t have any more lives [to give]. I don’t have any more emotions. I’m no longer interested in their diplomacy that leads to the destruction of my country,” Zelenskyy said after being asked why he had spoken in an undiplomatic way to NATO and the UN Security Council (UNSC).

In recent days Zelenskyy had told the UNSC it should punish Russia or “dissolve itself”.

“We are defending the right to live. I never thought this right was so costly. These are human values. So that Russia doesn’t choose what we should do and how I’m exercising my rights. That right was given to me by God and my parents.”