By adopting the resolution, the Parliamentary Assembly of the Council of Europe called for the establishment of an international compensation mechanism under the auspices of the Council of Europe, and for Council of Europe member states and non-member states holding russian state assets to actively cooperate in the prompt transfer of these assets to the established international compensation mechanism.

In addition, PACE called for the creation of an international trust fund, where all russian state assets held by Council of Europe member and non-member states will be deposited, and for the establishment of an impartial and effective international claims commission.

“The Council of Europe has already demonstrated leadership in creating the Register of Damages Caused by the russian aggression against Ukraine. Now, the Council of Europe should play a significant role in supporting the efforts to restore Ukraine by recommending the seizure of russian state assets for this purpose,” said Ruslan Stefanchuk, the Chairman of the Verkhovna Rada of Ukraine.

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