PACE backs directing frozen Russian assets to Ukraine
The Parliamentary Assembly of the Council of Europe (PACE) adopted a resolution on April 16, calling for the transfer of $300 billion in frozen Russian state assets to Ukraine.
Ukrainian MP and PACE delegate Yevheniya Kravchuk reported the result of the vote via Facebook.
"The Parliamentary Assembly of the Council of Europe unanimously voted in favor of the corresponding resolution to support the restoration of our state [with] 134 votes in favor," said Kravchuk.
The document calls for:
• The creation of an international compensation mechanism under the auspices of the Council of Europe to cover damages from Russian aggression;
• International cooperation in transferring Russian assets to said compensation mechanism;
• The establishment of an international trust fund to hold all Russian sovereign assets;
• The formation of an impartial international commission to examine claims filed by Ukraine and affected entities demanding compensation for damages caused by Russian aggression.
Read also: 44 countries rally to redirect frozen Russian assets to support Ukraine
Kravchuk added that the final draft was amended to allow for member states of the Council of Europe and non-member states to join the Register of Damages and expanding the scope of the compensation mechanism to include damage done by Russia since the war’s inception in 2014.
“The Assembly recognizes that Russian politicians, propagandists, oligarchs, and other collaborators of the war have amassed significant wealth thanks to their close ties with Putin's regime,” the Ukrainian delegate said.
“To ensure these individuals are held personally accountable, their assets must be frozen, seized, and directed towards the reconstruction of Ukraine.”
She noted that approximately $300 billion in Russian sovereign assets have been frozen by Western powers.
“It is important that such steps are absolutely legitimate; according to international law, states have the right to take countermeasures against a state that has seriously violated international law,” Kravchuk concluded.
“It's time for the Council of Europe to move from sanctions to countermeasures against the Russian aggressor.”
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Read the original article on The New Voice of Ukraine
