Ukraine’s losses from 12 years of Russian aggression exceed $1 trillion: Office of the President
Over the 12 years of Russian aggression, Ukraine’s losses have exceeded a trillion dollars. This includes not only the destroyed infrastructure, but also environmental damage, business losses, and loss of human capital. This was stated by Deputy Head of the Presidential Office Iryna Mudra during the telethon.
According to her, in order to receive reparations, Ukraine has already launched the Register of Damages in The Hague and is working on creating a special commission that will deal with the issue of payments.
“Only during the years of full-scale war, starting from February 24, 2022, according to the World Bank, the losses to the state exceeded 667 billion dollars. That is, the main question now is how to ensure real compensation payments. And that is why, in parallel with the creation of the tribunal, Ukraine is also promoting an international compensation mechanism,” Mudra emphasized.
The next step should be to launch a compensation commission and a payment mechanism. Currently, the convention on the creation of such a commission has been ratified by 6 countries, but 25 ratifications are required for it to enter into force.
“We expect that this number of countries will be reached by the end of the year. And the compensation commission will start operating from 2027,” added the deputy head of the OP.
At the same time, Mudra noted that the most difficult issue remains the source of funds for compensation. Ukraine insists that reparations should be paid from frozen Russian assets.
The International Register of Damages was created in 2023. Ukrainians can submit applications and record the damages caused by Russia since the start of the full-scale war. In the future, these applications should become the basis for paying reparations to Ukraine.
