MEPs call on all countries where the Russian Federation has accounts to take the necessary steps to ensure the transfer of these assets to restore Ukraine’s infrastructure.
The Parliamentary Assembly of the Council of Europe adopted a resolution supporting the restoration of Ukraine. It was reported by Ukrinform.
In the resolution, MEPs called on all countries where the Russian Federation has accounts to take the necessary steps to ensure the transfer of these assets to restore Ukraine’s infrastructure.
It is noted that the Council of Europe has called for the creation of an international compensation mechanism under this.
As the newly created Loss Register begins the labor-intensive process of registering Ukrainian losses for international claims proceedings, countries that have frozen Russian assets must transfer those assets to a international compensation fund. In order to effectively implement the procedure, an international commission should be created that will consider claims for compensation for damage recorded in the Register, the resolution said.
It is planned to place all assets of the Russian Federation located in member states of the Council of Europe and non-member states of the Council of Europe in the international compensation fund, on the principles of transparency, accountability and being fair distribution of funds.
The resolution called for the creation of an impartial and effective international commission to consider the claims of Ukraine and affected entities for compensation for the damage caused by the Russian aggression.
PACE also encourages joint efforts between member states, international organizations and all interested parties to speed up the reconstruction process and ensure full compensation for the multifaceted damage caused by the war.
Earlier it was reported that the legal committee of the Parliamentary Assembly of the Council of Europe (PACE) approved the amendments to the affirmative draft resolution – the Russian oil refining industry is a legitimate target for Ukraine.
Let’s remember that, according to President Vladimir Zelensky, about $700 billion will be needed to restore Ukraine after the war.
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.