Crimea Annexation 'Robbed Ukraine Economy of $80bn '

Ukraine's economy has shed $80bn since Russia annexed the Crimea region in March, according to the interim government.

Justice minister Pavlo Petrenko said that Kiev would take a case for compensation to the European Court of Human Rights and might also press claims against individuals for military crimes and breaches of Ukraine's territorial integrity.

Claims could increase after Kiev assesses the lost profits and the value of potential energy reserves in the Black Sea, Petrenko added.

"Any state property located on the territory of Crimea is the property of Ukraine and Russia bears the full liability for the losses incurred by state companies, ministries and departments," Petrenko said.

"Today the amount of such losses is 950bn hryvnias ($83.6bn, £49.8bn, €60.4bn.) These losses do not include lost profits and the value of minerals."

The value of such assets had been estimated at between $800m and $1.2bn by analysts.

Ukraine's economy, plagued by years of corruption, was already struggling before its president Viktor Yanukovich was ousted in February.

The interim administration is hoping to seal an aid package worth up to $18bn from the International Monetary Fund. If the loan is finalised, it could pave the way for additional aid from the European Union and the United States.

Washington and Brussels have imposed fresh sanctions against individuals and companies in Russian president Vladimir Putin's inner circle over its actions in eastern Ukraine.

The US has accused Moscow of fomenting the armed pro-Russian militias to remain in control of Ukraine government buildings, despite signing a de-escalation deal at Geneva.