Who Will Pay for Russian-Caused Damages in Ukraine? |
Understanding the conflict three years on.
Welcome back to World Brief, where we’re looking at a new compensation body for Russia-caused damages in Ukraine, M23 control over a strategic Congolese town, and a last-ditch effort to secure a European Union-Mercosur trade deal.
A coalition of more than 30 countries, including Ukraine and European Union members, formally approved plans on Tuesday to establish a compensation body for damages incurred during the Russia-Ukraine war. However, it remains unclear where the money will come from.
Welcome back to World Brief, where we’re looking at a new compensation body for Russia-caused damages in Ukraine, M23 control over a strategic Congolese town, and a last-ditch effort to secure a European Union-Mercosur trade deal.
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A coalition of more than 30 countries, including Ukraine and European Union members, formally approved plans on Tuesday to establish a compensation body for damages incurred during the Russia-Ukraine war. However, it remains unclear where the money will come from.
Since Russia’s full-scale invasion began in February 2022, the Register of Damage for Ukraine has received nearly 85,000 claims made by individuals, organizations, and public bodies seeking reparations for Russia-inflicted damages, including child deportations, the destruction of religious sites, and sexual violence. According to the World Bank, Kyiv’s estimated cost of reconstruction over the coming decade will be at least $524 billion—or almost three times the country’s economic output in 2024.
The newly approved International Claims Commission, overseen by the Council of Europe, will help assess these claims.
How these reparations will be paid, though, remains under negotiation. “The goal is to have validated claims that will ultimately be paid by Russia,” Dutch Foreign Minister David van Weel said. On Friday, the European Union announced that it will indefinitely freeze around $247 billion of frozen Russian assets in the hopes of using some of them to help fund Ukraine’s war effort. Moscow has denounced such moves, calling the EU proposal illegal and threatening........