It is already planned to transfer to Ukraine the confiscated assets of the Russian Central Bank worth over $300bn, but much more will be needed to compensate for the losses caused by the aggressor country. To receive them, an international register has been created, where all damages caused to Ukraine by Russia will be recorded.
This was told by Deputy Minister of Justice Iryna Mudra in an interview with "Apostrophe".
According to her, there is a resolution of the UN General Assembly of November 14, 2022, where 94 countries expressed that Russia is obliged to compensate Ukraine for the caused damage. And for this purpose, UN member states were recommended to create an international register of losses.
"So after the resolution was adopted, we immediately started work, and in less than eight months this register was created. It is the first element of the compensation mechanism. All losses caused to Ukraine by Russia are recorded there. Individuals and legal entities, as well as the state of Ukraine represented by its central and local authorities have the right to submit statements of losses and relevant evidence to the register," explained Iryna Mudra.
She emphasized that the register will include not only material damage caused by the aggressor country to infrastructure facilities, state objects, cultural and artistic heritage, environment, etc. but also damage related to loss of life, bodily injury, torture, sexual violence, forced resettlement, forced displacement, loss of property and income.
"The mechanism that is being developed now also involves the establishment of a special compensation commission, which will study the data from the register and on their basis determine the amount of compensation that Russia will have to pay," the Deputy Minister of Justice added.
According to her, when it comes to compensation, it is necessary not only to determine its amount, but also to find a source of funds for its payment. Otherwise, all the register data and decisions of the compensation commission will remain worthless documents. This is why it is proposed to create a fund for the payment of compensations.