PACE adopts resolution to use Russian assets for Ukraine’s reconstruction

PACE adopts resolution to facilitate Ukraine's reconstruction using frozen Russian assets for an international compensation fund and establishing a claims commission.

Apr 17, 2024 - 06:54

PACE adopts resolution to use Russian assets for Ukraine’s reconstruction

Parliamentary Assembly of the Council of Europe (PACE)

The Parliamentary Assembly of the Council of Europe (PACE) unanimously adopted a resolution on 16 April 2024, supporting the reconstruction of Ukraine, Ukrinform reported.

The resolution, supported by all 134 participants at the meeting, focuses on transferring frozen Russian assets to an international compensation fund designated for restoring Ukraine’s damaged infrastructure. It also calls for the creation of an international claims commission to adjudicate claims related to damages caused by Russian aggression.

According to the resolution, an international trust fund should be established where all Russian state assets held by Council of Europe member and non-member states will be deposited. This fund will ensure transparency, accountability, and equity in the disbursement of funds for compensation to Ukraine and those affected by Russian actions.

The Council of Europe emphasized the need for an impartial and effective international claims commission, operating under recognized judicial norms, to process these reparations. Additionally, the resolution encourages collaborative efforts among member states, international organizations, and stakeholders to expedite the reconstruction process and ensure comprehensive compensation for the damages caused by Russia’s war.

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