PRESS RELEASE : Ukraine counts on the adoption of the UN resolution on the international compensation mechanism at the cost of frozen Russian assets – President of Ukraine [October 2022]

The press release issued by the President of Ukraine on 20 October 2022.

Ukraine counts on the adoption of the United Nations resolution on the international mechanism of confiscation of frozen Russian assets as reparations for the unleashed war. This was stated by President Volodymyr Zelenskyy during a meeting with media representatives following the negotiations with President of the Swiss Confederation Ignazio Cassis in Kyiv.

The Head of State noted that Ukraine has already frozen the assets of many Russian citizens subject to sanctions.

“I signed the decree, enacted the decision of the National Security and Defense Council, there are 3,000 people there. There are frozen assets there, and we will definitely receive compensation from them in our budget,” Volodymyr Zelenskyy said.

The President of Ukraine thanked the countries that also froze Russian assets, in particular the accounts of Russian legal entities. Among others, Switzerland supported Ukraine in this matter.

At the same time, the Head of State emphasized the importance of introducing an international mechanism for the transfer of frozen assets of the aggressor country to Ukraine as compensation.

“We are working on this – so that the appropriate resolution on the implementation of an international compensation mechanism is supported by the United Nations. Many countries are already willing to do this. I think that by the end of this year we will have real solutions, we will see a real mechanism,” Volodymyr Zelenskyy said.

The President noted that the issue of the implementation of the frozen assets compensation mechanism will be discussed at the International Expert Conference on the Restoration and Reconstruction of Ukraine, which will be held this month in Berlin.