Ukraine to use confiscated Russian assets to compensate war victims: Minister Malyuska

As the Russian war entered day 106 with significant loss of life and property in Ukraine, Kyiv on Wednesday announced that it will use seized Russian assets to compensate Ukrainians for the loss. All citizens who have faced complete or partial destruction of their property amid Russian shelling will be eligible for the coverage, said the Ukrainian Minister of Justice, Denis Malyuska. "Every day Ukraine suffers enormous material losses as a result of the war. Russia is unlikely to pay reparations voluntarily," he said in a statement.

The Ukrainian Minister further outlined that Kyiv will consider the payments in two blocks:

1. Working with Russian assets abroad in order to select them there
2.  Selection of assets related to the aggressor persons within Ukraine.

Speaking about the successful execution of using blocked Russian assets for the benefit of weary Ukrainians, Malyuska said, "...it depends on the political decisions made by Western leaders." While there is a consensus in the West to seize Russian assets, citizens, and businesses of all linked to the Russian Federation or warmongers, it is necessary to create a "mechanism" to ensure the funds are utilised to meet the needs of the suffers, he stated, adding that such a process is "in the negotiation stage."

Malyuska explained the only way to open our access to Russian assets abroad is to conclude an international agreement. "Because in each case the key problem is that in Europe or the United States, the simple seizure of property would violate property rights, the protection of which is the foundation of these countries, or the immunity of a sovereign state or Russia could be applied," he added.

This comes after Ukrainian President Volodymyr Zelenskyy in April suggested that Kyiv could use confiscated Russian assets to compensate Ukrainians. He invited international partners to sign "multilateral agreements" to create a mechanism through which "everyone who suffered from different actions will be able to receive compensation for all losses." In a Telegram post, he wrote, “That would be fair. And Russia will feel the true weight of every missile, every bomb, every projectile it has fired at us.”

Will seizing Russian assets help Ukraine?

According to Financial Times, the international law says the assets of convicted war criminals can be used to compensate victims of the war. Previously there have been instances where seized assets were used as reparations for war-induced property damages. For example: the Iraqi government paid over $52 billion to victims of Saddam Hussein's invasion of Kuwait, the last installment of which was paid last year. Nevertheless, there are stumbling blocks in the path of using seized Russian assets as compensation, and are subject to the legal limits of the countries in which they are frozen. In many countries, such assets only can be used after the conviction of the owner of the relevant property.

(Image: AP)