The International Register of Losses in The Hague will operate at full capacity in the first half of 2024, without waiting for the end of the war, said Irina Mudraya.
The confiscation and transfer of Russian assets to Ukraine is a complex process and an international precedent. But the working group to develop compensation mechanisms for the damage caused by Russian aggressors in Ukraine is making significant progress. Deputy Minister of Justice Irina Mudraya said this in the telethon.
“If a year ago our partners did not want to think about it, then today our working group, created by order of the President of Ukraine Vladimir Zelensky, to develop mechanisms for compensation for the damage caused by the Russian army, has made quite significant progress,” – she stated.
Wise recalled that in November 2022, a concept developed by a working group was presented to create a special compensation mechanism at the UN General Assembly, supported by the majority of UN member countries – 94 countries, according to on the resolution on November 14, 2022, 94 countries voted in the UN.
This concept is based on three parts and involves the creation of:
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The International Register of Losses, which will be a comprehensive platform, a database of victims on the territory of Ukraine from the actions of the Russian Federation on and after 02/24/2022. Such persons are individuals, legal entities. individual and the state of Ukraine itself.
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The International Compensation Commission, which will subsequently review the applications entered in the register of losses and provide the amount of compensation to be paid.
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Compensation Fund – source of payments and compensation, awarded compensation amounts. This is the fund that must be filled primarily from Russian assets.
“Now there is a working group with representatives of the G7, the EU, the Netherlands and Ukraine, the so-called Big Ten,” said Mudraya.
According to him, last week an interstate working group, which includes the chief legal advisers of the Big 10, where Ukraine is represented by the Ministry of Justice, met on the sidelines of the UN international law to discuss and determine the next step of such a mechanism.
“The group came to the conclusion that the currently available resolutions are sufficient to move forward, the creation of a Compensation Commission, a fund through an international multilateral agreement,” he said.
The official also said that the international register of losses, created under the auspices of the Council of Europe in the Netherlands and The Hague, will work at full capacity in the first half of 2024, without waiting for the end of the war.
“On November 16-17, 2023, the composition of the Registry Council will be appointed, seven people who must develop policies and procedures for the operation of the registry,” said Mudraya and added that the registry will be done in the form of a strong digital platform.
Earlier, the European Commission said that Ukraine will receive income from Russian assets. We are talking about billions of euros, said EU President Ursula von der Leyen.
It was also learned that Belgium will finance Ukraine at the expense of Russia from a fund in the amount of 1.7 billion euros. It was filled from the taxation of Russian assets that were frozen in the country.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.