Ukraine's top government economic adviser Oleg Ustenko said on Thursday that invading Russian forces have so far destroyed at least $100 billion worth of infrastructure, buildings and other physical assets, Reuters reported. Ustenko, chief economic adviser to Ukrainian President Volodymyr Zelenskiy, told an online event hosted by the Peterson Institute for International Economics that the war has caused 50% of Ukrainian businesses to shut down completely, while the other half are operating at well below their capacity.

Cryptocurrency evangelists are on the defensive amid warnings from U.S. and European lawmakers that digital asset companies are not up to the task of complying with Western sanctions imposed on Russia following the country’s invasion of Ukraine, Reuters reported. The criticism has seen the crypto industry scrambling to regain control of the narrative, with many executives frustrated that the compliance regimes in place at leading exchanges, such as Coinbase and Binance, are being called into question.

European companies are suffering yet more strain on supply chains already snarled up by the coronavirus pandemic as the conflict in Ukraine leads to growing shortages of key components, they warned on Wednesday, Reuters reported. The new snags pose a further threat to economic recovery in Europe, potentially prolonging existing bottlenecks that in some sectors were not expected to clear until next year. The conflict has added to the trade chaos that followed the global economy's emergence from pandemic lockdowns.

Gina Raimondo, the secretary of commerce, issued a stern warning on Tuesday to Chinese companies that might defy U.S. restrictions against exporting to Russia, saying the United States would cut them off from American equipment and software they need to make their products, the New York Times reported. The Biden administration could “essentially shut” down Semiconductor Manufacturing International Corporation or any Chinese companies that defy U.S. sanctions by continuing to supply chips and other advanced technology to Russia, Raimondo said.

The European Commission has prepared a new package of sanctions against Russia and Belarus over the invasion of Ukraine that will hit additional Russian oligarchs and politicians and three Belarusian banks, three sources told Reuters on Tuesday. The draft sanctions were adopted by the EU executive on Tuesday morning and will be discussed by EU ambassadors at a meeting starting at 1400 GMT, one source said. The draft package will ban three Belarusian banks from the SWIFT banking system and add several more oligarchs and Russian lawmakers to the EU blacklist, the sources told Reuters.

Ukraine has suffered about $10 billion in damage to infrastructure since Russia invaded the country, Infrastructure Minister Oleksander Kubrakov said on Monday, Reuters reported. He said in televised comments that the figure stood as of Sunday, and added: "The majority of (damaged) structures will be repaired in a year, and the most difficult ones – in two years." Kubrakov said 40,000 people had been evacuated from the eastern city of Kharkiv on Sunday.

Securities traders and hedge funds trying to trade Russian securities that aren’t subject to foreign sanctions over the country’s invasion of Ukraine have been running into the problem that some clearinghouses are still refusing to settle the trades, WSJ Pro Bankruptcy reported. Bank of New York Mellon Corp.’s Pershing, one of the main clearinghouses that settle securities trades, told clients on Thursday that both U.S. and non-U.S. custodians, mutual-fund companies and liquidity providers have imposed restrictions “above and beyond” sanctioned Russian securities.

After a pandemic and a global chip crunch, Russia’s war in Ukraine has unleashed auto makers’ third supply-chain crisis in as many years, the Wall Street Journal reported. The fighting in Ukraine has shut down small but important industry suppliers, shutting plants far away from the conflict zone, while sanctions and severed trade routes are hindering car and parts shipments to and from Russia, once seen as a growth market.

Textile and leather goods' makers in Istanbul's garment district are feeling the impact of Russia's invasion of Ukraine as customers in Moscow and Kyiv have canceled $200 million in orders in the past week, industry officials say, Reuters reported. The loss of trade adds to strains on Turkey's economy, with officials estimating that more than $1 billion is directly at risk to the textile industry alone if the conflict in Ukraine continues.

Bonds issued by the Ukrainian government hit new lows Wednesday despite assurances from foreign governments and global institutions that they would continue to buttress Ukraine’s wartime finances, WSJ Pro Bankruptcy reported. On Wednesday, a Ukrainian government bond coming due in September was quoted between 36 and 40 cents on the dollar, down from 65 cents on Friday, according to data from FactSet. A 2033 bond was quoted between 23 to 26 cents on the dollar Wednesday, down from 45 cents Friday.