Putin’s oligarchs are making billions off Mariupol “reconstruction” | Eastern Express

Mariupol was ravaged during Russia’s 2022 siege, with up to 90% of its residential buildings damaged or destroyed and thousands of people killed, leaving much of the city in ruins. Now, billions of rubles are being poured into what Russia calls “reconstruction,” with state-backed financing, subsidized mortgages, and favorable conditions creating a lucrative market for developers and Russian buyers, while many Ukrainians who lost their homes continue to fight for compensation they may never receive.

As new apartment blocks rise and properties are increasingly marketed to newcomers from Russia, the construction boom is not only reshaping Mariupol physically, but also raising questions about who will live there in the future and how the city’s population is changing under Russian occupation.

Eastern Express host Benjamin Lee is joined by Ilia Shumanov, a corruption investigator and activist, to examine who is profiting from Mariupol’s development, how state-linked buyers are being drawn to the housing market, and what this transformation means for Ukrainians who once called the city home.

Chapters:
00:00 - Intro
00:06 - Russia's reconstruction boom in occupied Mariupol
01:02 - Developers profit from rebuilding the city
02:46 - How Mariupol was devastated in 2022
04:17 - State-backed construction projects in occupied Ukraine
06:58 - Who benefits from Mariupol's reconstruction?
09:21 - Why Russians are buying property in Mariupol
14:05 - Is the Kremlin cementing its claim to Mariupol?
16:54 - Can sanctions target reconstruction profiteers?
18:25 - Mariupol and Russia's strategy in occupied territories
20:59 - Eastern News Flash

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