• About
  • Advertise
  • Privacy Policy
  • Contact
Saturday, May 9, 2026
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result
in Europe

European Leaders Support System To Estimate Damage Caused By Russia In Ukraine

Comfort Ampomaaby Comfort Ampomaa
May 17, 2023
Reading Time: 3 mins read
European Commission President Ursula von der Leyen prepares to sign the Register of Damage during the Council of Europe summit in Reykjavik, Iceland, Wednesday, May 17, 2023.

European Commission President Ursula von der Leyen prepares to sign the Register of Damage during the Council of Europe summit in Reykjavik, Iceland, Wednesday, May 17, 2023.

A system to evaluate the damage caused by Russia during the war in Ukraine has gained the support of more than 40 countries at the Council of Europe summit, in expectation that Moscow can be coerced to compensate victims and help reconstruct the nation once the conflict is over.

The Russian invasion of Ukraine was the dominant topic during the meeting in the Icelandic capital, Reykjavík, where delegations from Council of Europe member states discussed how the continent’s preeminent human rights organization could support Kyiv.

The most concrete result of the meeting has been endorsed by France, Germany, and the United Kingdom, among other nations; a new office to establish a register of damages that will allow victims of the war to report the harm they have suffered.

“Today’s decision to establish this register is without doubt historic. After that, we should prepare the necessary legal framework for the confiscation of Russian assets and establish a compensation fund.”

Ukrainian Prime Minister, Denys Shmyhal

German Chancellor, Olaf Scholz tagged the register as “a significant contribution to international efforts to hold Russia to account for the consequences of its brutal actions.”

ADVERTISEMENT
1000 2023 05 17T125301.685
Germany’s Chancellor Olaf Scholz speaks during a media conference at the Council of Europe summit in Reykjavik, Iceland, Wednesday, May 17, 2023. 

Scholz stressed that details of how Russia will pay for the damage to Ukraine are yet to be resolved. “The register of damages is a register – that’s quite a bit, but that’s what it is, and this doesn’t resolve the question of how the damages will be paid for.”

Asked to assess the chances of frozen Russian assets being utilized to pay for damages, Scholz sounded skeptical. He remarked that there were “not many courses of action that are open and are compatible with current law.”

Running Costs To Be Financed By Signatories

According to a Council of Europe document, the record is “intended to constitute the first component of a future international compensation mechanism.” The running costs will be financed by the signatories.

Such a register could be used to distribute reparations from a proposed tribunal to prosecute the crime of aggression, another concept backed by the Council of Europe. In his address to the summit on Tuesday, May 16, 2023, Ukrainian President Volodymyr Zelenskyy echoed his country’s wish for such a court.

1000 2023 05 17T125115.630
Ukraine’s President Volodymyr Zelenskyy addresses, via videolink, the opening ceremony of the Council of Europe summit in Reykjavik, Iceland, Tuesday, May 16, 2023.

“There will be no reliable peace without justice,” Zelenskyy said, speaking to the opening session via video link.

The Council of Europe’s Secretary General, Marija Pejčinović Burić stated that the body intends to support the international effort to establish a judicial organ to prosecute the crime of aggression which is the literal act of invading another country.

The Strasbourg-based Council of Europe seeks to bring legal and humanitarian support instead of military aid. It has been a guardian, with inconsistent success, of human rights, democracy and the rule of law on the continent since its inception in 1949. 

The International Criminal Court has issued an arrest warrant for Russian President, Vladimir Putin and another official for war crimes, accusing him of personal responsibility for the abductions of children from Ukraine. However, the court lacks the ability to prosecute aggression.

READ ALSO: China Prepared To Resolutely Smash Any Form Of Taiwan Independence- Col. Tan Kefei

Sign Up to Our Newsletter

Fresh updates, Straight to your inbox

Tags: Chancellor Olaf ScholzCouncil Of EuropeDenys ShmyhalRussia-Ukraine warUrsula von der Leyenvolodymr zelenskyy
ShareTweetShareSendSend
Please login to join discussion
Previous Post

Finance Ministry Engages Traders in Accra on Fraudulent Financial Schemes

Next Post

Quayson Was Never Qualified To Be Begin With- Nimako

Related Posts

Italian Premier, Giorgia Meloni
Europe

Meloni Labels Meeting With Rubio As Constructive

May 8, 2026
download 25
Europe

Italy Reaffirms Trans-Atlantic Ties With US

May 8, 2026
download 23
Europe

Rubio Visits Vatican In Bid To Repair Relations

May 7, 2026
Pope Leo XIV
Europe

Pope Leo To Visit Spain

May 6, 2026

Sign Up to Our Newsletter

Fresh updates, Straight to your inbox

Recent News

Fitch Ratings Upgrades Ghana to ‘B’ as Economic Recovery Gains Momentum

Fitch Ratings Upgrades Ghana to ‘B’ as Economic Recovery Gains Momentum

May 9, 2026
Honourable Kojo Oppong   Nkrumah, Chairman Newly Constituted Policy Committee for NPP And MP for Ofoase-Ayirebi constituency.

NPP Mobilises Expertise To Rebuild Party Ahead Of 2028 Elections

May 9, 2026
AfDB Strengthens Women Entrepreneurship Through $61 Million Strategic Financing

AfDB Strengthens Women Entrepreneurship Through $61 Million Strategic Financing

May 8, 2026
Mr. Raymond Rashid Kramer, DCEO of GEPA, at the TUYAP Fair Center

Kramer Deploys Twelve Cosmetics Producers To Türkiye Exhibition

May 8, 2026
Table showing in NPP's decline in partisan voter affiliation against NDC's rise

NPP Support Crumbles Across Ghana As NDC Dominates 15 Regions

May 8, 2026
Next Post
Evans Nimako, the director of elections for the New Patriotic Party

Quayson Was Never Qualified To Be Begin With- Nimako

The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Discover the Details behind the story

Get an in-depth analysis of the news from our top editors

Enter your email address