Report Estimates Russia Has Stolen Ukrainian Grain, Steel worth Hundreds of Millions

Russia Theft Report

The Initiative for the Study of Russian Piracy (ISRP) released a new report exposing the magnitude and potential impact of Russia’s looting of Ukrainian assets, like grain and steel. The report identifies nearly 50 discreet incidents of theft and estimates a constantly growing total of more than half a million metric tons of wheat, corn, and barley has been shipped. The investigators also found that Russia has taken more than 11,000 metric tons of Ukrainian metal products, largely from the Azovstal Iron and Steel Works plants that had been under siege in Mariupol, with a total value of over $166 million. They found another 28,000 metric tons of steel products loaded onto ships, and nearly 200,000 metric tons of metal at the port that can be stolen by Russia at any moment. The illegal activity has sparked fears of an engineered famine and the resulting economic impact is already being felt worldwide.

ISRP will continue to track instances of Russian theft and will provide updates as well as subsequent reports.