"The International Claims Commission is tasked with assessing reparation claims and determining amounts to be paid. Top European officials have agreed to launch an international commission to compensate Kyiv for hundreds of billions of dollars in damage from Russia's continuing war on Ukraine. The International Claims Commission for Ukraine, established in a treaty signed by 35 countries at Tuesday's conference in The Hague, is to assess and decide claims for reparations, including any amounts to be paid out."
"Attending the summit with leaders including Dutch Prime Minister Dick Schoof and European Union foreign policy chief Kaja Kallas, Ukrainian President Volodymyr Zelenskyy said making Russia pay for its crimes was exactly where the real path to peace begins. This war and Russia's responsibility for it must become a clear example so that others learn not to choose aggression, he said. We must make Russia accept that there are rules in the world."
"Details on how any damages would be paid are yet to be worked out with discussions revolving around using Russian assets frozen by the EU, supplemented by member contributions. The EU has indefinitely frozen hundreds of billions of euros of Russian funds held in Europe and is considering using the money to help Ukraine defend itself against Russia and rebuild."
A treaty signed by 35 countries established the International Claims Commission for Ukraine based in The Hague to assess and decide reparations claims and payment amounts. The commission is coordinated by the 46-member Council of Europe and follows a Register of Damages created about two years earlier that has logged more than 80,000 claims. Financial mechanisms under discussion include using EU-frozen Russian assets supplemented by member contributions. The EU has indefinitely frozen hundreds of billions of euros of Russian funds held in Europe. The commission launch coincides with diplomatic efforts aimed at ending the war and holding Russia responsible for damage.
Read at www.aljazeera.com
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