21 May 2022, Saturday, 00:02 373

Ukraine Initiates Creation Of International Mechanism For Compensation For Damage From Russian Aggression

Редактор: Tetiana Herasimova

Ukraine is initiating the creation of an international mechanism for compensation for damage from Russian aggression. President Volodymyr Zelenskyy said this in a traditional evening video address on May 20, Ukrainian News Agency reports.

"We offer partner states a legal way to recognize that Russia should be held materially responsible for the crimes it has committed. This is important not only in the context of this war unleashed by Russia. But also in the context of any other aggressive actions from Russia or any other potential aggressor. Evil should get an answer and know that it will be punished," Zelenskyy said.

According to him, Ukraine invites partner states to sign a multilateral agreement and create a mechanism through which everyone who has suffered from Russia's actions will be able to receive compensation for losses.

On the basis of such an agreement, Russian funds and property located in the jurisdictions of partner states should be arrested or frozen, and then confiscated and sent to a specially created fund, from which all victims of Russian aggression will be able to receive compensation.

Ukraine invites partners to become founders of such a fund, as well as participants in a special international commission considering claims, that is, appeals from both individuals and legal entities.

As Ukrainian News Agency earlier reported, on May 17, Zelenskyy instructed the Cabinet of Ministers to create a commission to audit losses from Russian aggression.

Zelenskyy also created a working group on the development and implementation of international legal mechanisms for compensation for damage caused to Ukraine as a result of Russia's armed aggression.

Earlier, Prime Minister Denys Shmyhal said that at least USD 600 billion would be needed to restore Ukraine.

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