The Sea of Azov: Ukraine’s loss but hardly Russia’s gain

What Happened

Russia seized the Sea of Azov during its 2022 invasion of Ukraine, forcing hundreds of thousands to flee. The shallow sea, once a tourism and export hub, was declared Russia's "domestic sea" in 2023. Ukraine lost 10-12 percent of GDP from Azov's loss alone. Total losses from Russian-occupied territories reached $12.4 trillion, including coal mines and steel plants. Mariupol, the largest port, was heavily destroyed.

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