Frozen Russian assets are a test of global justice — Mudra

For the third year, Ukraine has been defending not only its land but the very principles of international law, said Iryna Mudra, Deputy Head of the Office of the President of Ukraine, during the Money for Victory: Make Russia Pay Conference 2025. She stressed that frozen Russian assets are about far more than money — they are a test of whether the world can ensure real accountability.

Novyny.LIVE reports from the Money for Victory: Make Russia Pay Conference 2025.

"Frozen assets are a test of whether aggression will be profitable"

"The frozen Russian assets are not just about money. They are a test of whether the international system can deliver real accountability — or whether aggression will be profitable," Mudra said.

She emphasized that Ukraine offers a practical solution — turning these assets into tools for defense, reconstruction, and compensation.

"Ukraine has built a clear architecture for reparations — the International Compensation Mechanism for Ukraine," she explained.

According to Mudra, the mechanism includes three key components:

• The Register of Damage for Ukraine, which is already operating and has received more than 60,000 claims from individuals and entities affected by the war.
• The International Claims Commission, which will review these claims and award compensation to victims. Its formal creation is expected after a diplomatic conference in The Hague on December 16, where the Open Convention establishing the Commission will be adopted.
• The Compensation Fund, which will finance payments awarded by the Commission once partner contributions are secured.

"Reparations must become a legally binding act"

Mudra said Ukraine’s goal is to make the recovery process "not a political gesture, but a legally binding act."

"Every claim is a piece of evidence. Every piece of evidence is an argument why Russian assets should be directed to Ukraine to cover compensations," she noted.

The deputy head of the President’s Office also highlighted the Reparation Loan Initiative by the European Commission, supported by Germany, France, and the United Kingdom.

"This initiative represents a practical and much-needed step forward. It doesn’t confiscate the assets themselves but uses profits from frozen Russian sovereign assets as collateral to finance Ukraine’s defense and recovery needs," Mudra added.

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