Yermak in Lugano: The sooner mechanism of compensation for damage by Russia introduced in world, the less financial burden will have to be born by partner states of Ukraine
Head of the President’s Office of Ukraine Andriy Yermak, speaking at a conference in Lugano, Switzerland, said that the sooner the mechanism of compensation by Russia for the damage caused by the war to Ukraine is introduced in the world, the less financial burden Ukrainian partners will have to bear.
According to him, "Ukraine has no illusions about Russia's intention to participate in the payment of reparations."
"Obviously, this is not going to happen. Therefore, the mechanism proposed by Ukraine provides for the use of Russian assets located abroad to pay compensation. Ukraine insists that this mechanism should operate in full compliance with the principles of the rule of law. We understand that there is a lot of work ahead, including through the change of national legislations of states," Yermak said.
He noted that the Ukrainian side is already negotiating with partner states to identify and implement a compensation mechanism, and also welcomed Canada for adopting a law allowing the confiscation of public and private assets of Russians whose owners are associated with violations of international law and human rights.
"We are waiting for similar steps from other partner states. We will be very happy to work together so that the terrorist state and its accomplices cannot hide their property in foreign jurisdictions with impunity. The more states join this work, the faster Ukraine will be able to restore its own destroyed economy. The sooner the compensation mechanism is implemented, the more efficiently the assets of the aggressor state will be converted into funds to restore the lives of Ukrainians, the less financial burden our partners will have to bear," Yermak said.
The head of the President’s Office also stressed that Ukraine cannot wait.
"This restoration should be paid for by the terrorist state. We can't wait. We already have dozens of destroyed houses, thousands of destroyed infrastructure, hundreds of destroyed schools and hospitals, millions of homeless people. We need to rebuild the country just now," he concluded.
