35 countries sign reparations convention for Ukraine in Netherlands

On December 16, the Netherlands signed the Convention on the establishment of an International Claims Commission to review claims for damage caused by Russia's aggression against Ukraine. The document was supported by 35 countries, Report informs via RBC-Ukraine.

Representatives of 35 countries signed the convention, which provides for the commission to operate under the auspices of the Council of Europe.

President of Ukraine Volodymyr Zelenskyy took part in the event.

According to Council of Europe Secretary General Alain Berset, the creation of the Register of Damage for Ukraine in 2023 marked the first stage of an international compensation mechanism.

The second stage will be the work of the International Claims Commission, which will deal with compensation for damage caused by Russia's aggression against Ukraine.

These two instruments will ensure a systematic approach to collecting and verifying data on damages, as well as identifying responsible individuals and states required to provide compensation.

The third stage of the global mechanism will be the creation of a compensation fund from which Ukraine will be able to pay reparations.

Sources of funding are still being discussed, but most of the money is likely to come from frozen Russian assets or the interest accrued on them.