Ukraine offers foreign states to conclude an international agreement that allows the use of russia's gold and foreign exchange reserves to pay compensation to victims of its invasion, told Prime Minister Denys Shmyhal during a CMU session on June 28.

The Prime Minister stressed that confiscation of all without exception russian assets abroad which were frozen after February 24 will become another step towards punishing the aggressor. According to him, our partner countries will be able to sign it and launch a procedure to confiscate russian assets.

“We are talking about hundreds of billions of dollars. We will do everything it takes to ensure that these frozen resources are used promptly to help Ukrainians and rebuild our state after the war,” emphasized Denys Shmyhal.

The Head of Government told in Canada, amendments to a specialized law had already entered into force, which provide for the possibility of confiscation of russian assets and their use to support Ukraine. Two months ago, this issue was talked over in Washington by the Prime Minister of Ukraine and Deputy Prime Minister of Canada Chrystia Freeland.

Denys Shmyhal added Ukraine also offers to establish a Fund to which about $300 billion in russian funds will be directed. Compensation will be paid from this Fund, thus providing the resource to rehabilitate and our state after the victory.

“We will afford russia a chance to pay reparations in favor of Ukraine, but this is hardly possible. Therefore, we will follow the path of confiscating their assets and property. The same applies to the confiscation of all russian assets in Ukraine. Everything will be done in line with relevant procedures so that no questions arise in any international arbitration courts,” underlined the Prime Minister.

Denys Shmyhal noted that Ukraine will continue to persuade our partners to recognize russia as a state that sponsors terrorism. It is also working to have russia permanently excluded from the global money laundering and terrorism financing organization

According to the Prime Minister, the Government attracts the best Ukrainian and world lawyers in this important work. Therefore, at its session on June 28, the Cabinet of Ministers has made changes to the document that determines the procedure for protecting Ukraine's interests in international courts.