The Parliamentary Assembly of the Council of Europe (PACE) may become the first international organization to declare Russia as a "terrorist state," President of Ukraine Volodymyr Zelensky said on Thursday, speaking via video link at a PACE session.

Europe, he said, "can play a historic role in the creation of the Special Tribunal for the Crime of Russian Aggression against Ukraine. Let's do it! This will be the best way to protect the principles of international law."

"Europe can take the lead in efforts to recover the damage caused by this war. We must create an appropriate compensation mechanism – and we propose how to do it. The corresponding draft has already been prepared by Ukraine. I ask you to support it – both in Europe and at the level of the UN General Assembly," the President said.

Zelensky also called for "advocating the provision of Ukraine with a sufficient number of modern air and missile defense systems. Already this year we must protect our sky from the terror of Russia. If this is done, it will be a fundamental step to end the entire war as soon as possible."

Zelensky announced the need to "ban the aggressor state from oil and gas exports. Russia must see zero in the accounts in order to think about the benefits of peace. That should be the point of EU sanctions packages."

He stressed that we must "finally find how to force Russia to fulfill the demand of the IAEA and, without exaggeration, of all mankind – that is, to ensure the demilitarization of the Zaporizhia nuclear power plant. Russia should not just withdraw military equipment from there, but withdraw all of its militants."

According to the president, "never before has a united Europe been as strong as it is now. So focused on everything that's necessary to keep Russian terrorists from ruining our lives. That's the power of dialogue. We will isolate Russia together."

"Ukraine has offered its own path to peace. This is the European path. The path of dialogue and integrity. The path of the implementation of agreed decisions to protect Ukraine and humanity as well as constantly increase the price of war for the aggressor. The path of bringing the perpetrators of the war to justice and compensation for damage. This is the path to victory," Zelensky said.

According to him, "it is much shorter than it looks." "But only under the condition that the dialogue for its sake is honest, between all those who really value freedom, and that this word 'dialogue' does not cover the desire to turn a blind eye to the war," he stressed.