European Commission President: we're proposing to set up specialised court for Russia, use frozen assets to restore Ukraine
The European Commission is proposing to set up a specialised court to prosecute Russia's crime of aggression in Ukraine, as well as conditions for using frozen Russian assets to rebuild the country.
This statement was made in Brussels on Wednesday by President of the European Commission Ursula von der Leyen.
"Russia's invasion of Ukraine has brought death, devastation and unspeakable suffering. We all remember the horrors of Bucha. It is estimated that more than 20,000 civilians and 100,000 Ukrainian military officers have been killed so far. First, Russia must pay for its horrific crimes, including for its crime of aggression against a sovereign state. This is why, while continuing to support the International Criminal Court, we are proposing to set up a specialised court, backed by the United Nations, to investigate and prosecute Russia's crime of aggression," she said in a video address.
The President of the European Commission said that the EU is ready to start working with the international community to get the broadest international support possible for this specialised court.
In addition, von der Leyen expressed confidence that Russia must also pay financially for the devastation that it caused. "The damage suffered by Ukraine is estimated at 600 billion euros. Russia and its oligarchs have to compensate Ukraine for the damage and cover the costs for rebuilding the country," she said.
The President of the European Commission said that the EU has blocked EUR 300 billion of the Russian Central Bank reserves and the EU has frozen EUR 19 billion of Russian oligarchs' money.
"In the short term, we could create, with our partners, a structure to manage these funds and invest them. We would then use the proceeds for Ukraine. And once the sanctions are lifted, these funds should be used so that Russia pays full compensation for the damages caused to Ukraine. We will work on an international agreement with our partners to make this possible. And together, we can find legal ways to get to it. Russia's horrific crimes will not go unpunished," von der Leyen said.
