• Українською
  • Denys Shmyhal: Both the assets of russian oligarchs and russia’s sovereign assets should be confiscated
    Communications Department of the Secretariat of the CMU, posted 01 December 2023 16:36

    Confiscated russian assets should become the main resource for Ukraine’s reconstruction. This was stressed by Prime Minister Denys Shmyhal.

    “Ukraine has proposed a clear and understandable roadmap for the legitimate confiscation of frozen russian assets. One of the key elements is the work of the international Register of Damage, which was established by a decision of the Council of Europe and will operate in the Netherlands,” the Prime Minister said.

    At a meeting on 1 December, the Government approved two documents that will contribute to the efficient functioning of the Register.

    “Given that this Register will operate in electronic form, the Ministry of Digital Transformation and the Ministry of Justice of Ukraine should develop and submit technical requirements for the creation of software for such a Register. The Ministry of Digital Transformation should also develop a way for Ukrainians to submit claims for damages or losses through Diia,” Denys Shmyhal stressed.

    The second document, according to the Prime Minister, is Ukraine’s proposals for the classification of categories of damage subject to compensation. This, in his opinion, will allow for a systematic approach to the provision of all information on losses, damage and harm caused by russia to the state of Ukraine, as well as to each individual Ukrainian citizen and legal entity.

    The Head of Government said that this week a bipartisan and bicameral group of members of the U.S. Congress introduced a bill on the confiscation of assets of sanctioned russian oligarchs for the benefit of Ukraine’s recovery.

    “This document expands the confiscation capabilities of the U.S. Department of Justice and gives it the authority to transfer all funds from russian assets seized by the U.S. Government to Ukraine,” Denys Shmyhal said.

    The Prime Minister also expressed hope that the European Commission would come forward this month with a plan to use russia’s frozen sovereign assets to support Ukraine: “Both the assets of russian oligarchs and the sovereign assets of russia should be subject to confiscation. This is the only way to show the kremlin regime that its strategy of attrition will not work.

    Denys Shmyhal: Both the assets of russian oligarchs and russia’s sovereign assets should be confiscated