Russia’s foreign assets are protected by sovereign immunity, while the rights of oligarchs are protected by inviolability of private property.
Head of the Office of the President of Ukraine Andriy Yermak said that a draft mechanism for compensating Ukraine for losses caused by Russian aggression would soon be presented.
In particular, he noted the need to create an effective mechanism for compensating Ukraine for losses caused by Russian aggression.
“We must solve several problems as soon as possible. National courts and international arbitrations do not have the appropriate jurisdiction, the European Court of Human Rights cannot enforce its decisions, the UN is almost paralyzed by Russia’s presence in the Security Council,” Yermak said.
According to him, the sources of compensation can be both the already mentioned special taxes and duties on Russian energy carriers and transactions, as well as state and private property.
However, as Yermak emphasized, Russia’s foreign assets are protected by sovereign immunity, and the rights of oligarchs by the inviolability of private property.
“And this despite the fact that Russia itself disregards international law, and the capital of Putin’s so-called wallets is mainly of criminal origin. Therefore, we need a legitimate international mechanism that will provide compensation for the damage caused by Russia and will operate despite its categorical refusal to cooperate. By presidential decree, a specialized working group has already been created, which I have the honor to lead. Our and international experts, in particular, Markiyan Klyuchkovsky, Jeremy Sharp, Amal Clooney and many others are working on a draft of such a mechanism, and it will be presented soon. We are considering agreements on reparations as an element of the post-war reconstruction of Ukraine. Among such measures, we also expect the regime of maximum admission of Ukrainian goods to the markets of our allies and partners,the launch of the so-called Marshall Plan for Ukraine,” the head of the President’s Office explained.