Russia and its oligarchs must compensate Ukraine for the damage and destruction that is being caused. The Commission is proposing to create a new structure to manage frozen and immobilized public Russian assets, invest them and use the proceeds for Ukraine. The Commission, while continuing to support the work of the International Criminal Court, is ready to work with the international community on setting up an ad-hoc international tribunal or a specialised ‘hybrid’ tribunal to investigate and prosecute Russia's crime of aggression.
The options will now be presented by the Commission to the Member States for discussions and to decide on the next steps.
President von der Leyen said:
The damage suffered by Ukraine is estimated at 600 billion euros. Russia and its oligarchs have to compensate Ukraine for the damage and cover the costs for rebuilding the country.
And we have the means to make Russia pay. We have blocked 300 billion euros of the Russian Central Bank reserves and we have frozen 19 billion euros of Russian oligarchs' money.
More information
European Commission press release: Ukraine: Commission presents options to make sure that Russia pays for its crimes
Details
- Publication date
- 30 November 2022
- Author
- Representation in Ireland