EU supports establishing international system to register russia's damage to Ukraine
The European Council supported the creation of an international mechanism to document the damage caused by russia during the military invasion of Ukraine.
This is stated in the conclusions of the summit of EU leaders.
The document states that the European Union remains committed to supporting the recovery and reconstruction of Ukraine in coordination with international partners.
"In this context, the European Council reiterates the EU's full support for establishing an international mechanism to register the damages Russia has inflicted," the conclusions state.
The EU also stated that, together with partners, they would intensify work on the use of frozen and immobilized assets of russia for the recovery of Ukraine and compensation for damages in accordance with EU legislation and international law.
EU leaders also agreed to continue sanctions pressure on russia, including by capping oil prices, to punish it for its full-scale invasion of Ukraine.
They also welcomed a plan to provide Ukraine with 1 million artillery pieces over the next 12 months to help counter a russian invasion.
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The President of Ukraine, Volodymyr Zelensky, stated that the reconstruction of Ukraine should be Europe's most significant economic project. Ukraine's partners also agreed to prepare the "Marshall Plan." European countries are constantly freezing russian assets, which are planned to be used to rebuild Ukraine.
On March 23, the World Bank increased its estimate of the amount needed to restore Ukraine. World Bank estimates that Ukraine will need at least $411 billion for recovery.
