Decision at PACE
The Parliamentary Assembly of the Council of Europe (PACE) has unanimously approved the draft Convention on establishing an International Commission for Compensation, which will process claims from Ukrainian citizens and entities affected by Russia’s war.
Ukrainian MP Oleksiy Honcharenko (European Solidarity) highlighted on Apostrophe TV that this decision marks a turning point:
“Practically every Ukrainian has suffered losses. Legal mechanisms that seemed impossible two years ago have now been created,” he stressed.
Scale of the Problem
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Already, 60,000 applications for compensation from Ukrainian citizens have been submitted.
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Experts predict the total will reach hundreds of thousands or even millions of claims.
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The eventual cost of compensation may amount to tens or even hundreds of billions of dollars.
Funding Questions: Frozen Russian Assets
One of the most contentious issues remains where to secure the money.
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Frozen Russian assets in Europe and beyond are seen as the most likely funding source.
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The European Commission is working on a plan to channel nearly €200 billion of such assets into Ukraine’s reconstruction.
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EU foreign policy chief Kaja Kallas has clarified that assets of the Russian Central Bank frozen in the EU cannot be returned to Moscow, even after a ceasefire, until reparations are paid.
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However, Belgium’s Foreign Minister Maxime Prevost stated that Belgium does not plan to confiscate profits from Russian assets stored in Belgian banks — highlighting ongoing differences within the EU.
Timeline for Launch
According to Ukrainian officials:
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Two of the three key bodies needed for the compensation mechanism are already in place.
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The International Commission itself could begin reviewing cases and issuing first rulings by late 2026 or early 2027.
Meanwhile, the Council of Europe has also expressed readiness to create a Special Tribunal for the crime of aggression against Ukraine — targeting Russia’s top political and military leadership.
Why It Matters
The creation of an International Compensation Commission is:
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A crucial legal precedent for holding Russia financially accountable.
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A tool to provide direct relief to Ukrainian citizens and businesses who have suffered losses.
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A way to link frozen Russian assets with Ukraine’s reconstruction, potentially unlocking tens of billions in funding.
✅ Bottom line: Europe has taken a decisive step toward building a compensation system for war damages in Ukraine, but the battle over funding — particularly the use of frozen Russian assets — remains unresolved.
