Ukrainian Bar Association urged governments worldwide to audit assets of the Russian Federation so that to secure funds for future damages claims


KYIV — March 15, 2022. The Ukrainian Bar Association urged Governments of European Union member countries, as well as Governments of the United Kingdom, Japan, Singapore and Turkey to audit assets of the Russian Federation and its state-owned enterprises (where the state’s share is 51% or more) in their countries.

The UBA also asked the respective Governments to initiate investigations of compliance with sanctions introduced against the Russian Federation, and to prosecute violations.

The property of aggressor state, of its state-owned enterprises and sanctioned individuals should become sources for future reparations to individuals and legal entities for damages caused by the aggression of the Russian Federation in Ukraine.

Ukrainian legal community urges the said countries to assist with the establishment of a mechanism for compensation of damages from the assets of the Russian Federation.

Full text of letters can be found at the link.