The register of damage caused by Russia will begin to operate in the first quarter of 2024, Prime Minister of Ukraine Denys Shmyhal expects.

"The main resource for Ukrainian recovery should be the confiscation of Russian assets frozen in the West. We are working to ensure that the "Russia will pay" principle is implemented as early as next year," Shmyhal said at a government meeting on Tuesday.

According to the prime minister, the Compensation Fund, from which payments will be made, should be filled from confiscated Russian assets.

"This is about EUR 300 billion of sovereign assets and another EUR 28 billion of private assets that are stored in the EU and other developed countries," he said.

According to Shmyhal, today 43 countries and the European Union are taking part in the creation of the Register of Damage for Ukraine.

"The rules and procedures for its operation will soon be approved. We expect that it will begin to operate in the first quarter of next year," the prime minister said.