Council of Europe proposes using frozen Russian funds for Ukraine
The Council of Europe’s Parliamentary Assembly has moved to formalize the use of frozen Russian assets for Ukraine’s war reparations, with its Legal Affairs Committee now approving a draft resolution that frames this action as a lawful international countermeasure. This proposal, which calls for a dedicated funding mechanism to disburse funds following ECHR judgments, is set for a plenary vote on September 30, aligning with broader European efforts to leverage the roughly €260 billion in immobilized reserves.
According to GN geopolitics/rights (en-US), the PACE Legal Affairs Committee has formally endorsed a draft resolution declaring that the repurposing of approximately €260 billion in immobilized Russian central bank assets constitutes a lawful countermeasure under international law. The committee, led by rapporteur Tony Vaughan, proposed establishing a specific funding mechanism under the Council of Europe’s auspices to disburse these funds to Ukraine following European Court of Human Rights rulings, with the final vote scheduled for September 30.
Source: GN geopolitics/rights (en-US)The Council of Europe has formally proposed repurposing immobilized Russian assets to compensate Ukraine for war damage, moving in parallel with separate European Union initiatives to utilize the same financial reserves.
Source: Kyiv Independent
