Oleksandr Kravchenko
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Ukraine plans war-risk insurance fund for businesses, financed by VAT hike
Ukraine's Minister of Economy Oleksandr Kravchenko announced plans for a government-backed insurance fund to compensate businesses for losses caused by Russian attacks, funded in part by raising the value-added tax from 20% to 21%. The fund would cover up to $10 million per company group for the first loss, with private insurers involved in delivering the product and payouts targeted to begin on January 1, 2027. Minister Kravchenko estimated business damages from Russian attacks could reach around $10 billion, and said existing programs do not adequately cover large enterprises.