{
  "id": 6432619,
  "title": "Amid EU push, Council of Europe launches rival bid to use Russian assets to help Ukraine",
  "url": "https://urgent.news/2026/09/09/amid-eu-push-council-of-europe-launches-rival-bid-to-use-russian",
  "topic": "world",
  "section": "World",
  "published": "2026-09-09T14:31:12.000Z",
  "source": {
    "name": "Kyiv Independent",
    "slug": "kyiv-independent",
    "url": "https://kyivindependent.com/a-second-rival-bid-to-use-russian-assets-to-help-ukraine-just-landed/"
  },
  "original_language": "en",
  "account": "On September 9, the Council of Europe's Parliamentary Assembly (PACE) urged the use of Russia's immobilized assets to compensate Ukraine for war damage, as the EU pursues a separate plan for the funds. After Russia's invasion of Ukraine in 2022, the Russian Central Bank froze its financial assets, 180 billion euros ($210 billion) of which are held in Belgium. PACE's Legal Affairs committee press statement notes that utilizing Russian state assets to compensate Ukraine for war-related cases would be a lawful countermeasure under international law.\n\nThe scale of the damage inflicted on Ukraine could potentially result in compensation awards ranging from tens of billions to hundreds of billions of euros, according to a World Bank report from February 2026. European diplomats have previously indicated that Russian assets could be considered for compensation via an International Claims Commission established by the Council of Europe. However, these assets do not cover even half of the estimated bill.\n\nWhile the Council of Europe and the European Union are distinct entities, both entities are currently exploring ways to utilize Russia's frozen assets to support Ukraine. Sweden, the Netherlands, Poland, and Spain have initiated discussions on the matter, with 122 members of the European Parliament calling for urgent action on the issue on September 9. The European Union, which has provided financial support to Ukraine, has agreed to set up an international court to try Russia for aggression and an International Claims Commission to assess and award damages based on a register of Moscow's damage to Ukraine. However, Russia has not participated in these processes, leaving the question of finding up to $588 billion for potential compensation claims unresolved.",
  "summary": "\"Given the scale of the damage inflicted on Ukraine... any awards (of compensation) could potentially amount to billions, tens of billions, or hundreds of billions of euros,\" reads a Council of Europe statement.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}