Representatives of EVERLEGAL participated in a public discussion regarding the international compensation mechanism for Ukraine
Representatives of EVERLEGAL participated in a public discussion regarding the international compensation mechanism for Ukraine
Managing Partner of EVERLEGAL Yevheniy Deyneko and Counsel Yuliia Tantsiiura took part in a public discussion titled "Sanctions, Assets, Reparations: Compensation Mechanism for Ukraine and the Role of Business”, organized by the Union of Ukrainian Entrepreneurs.
During the event, participants discussed the practical aspects of the functioning of the international compensation mechanism for Ukraine and the role of business in the process of recovering damages caused by Russian aggression.
Read more about the international compensation mechanism via following link.
The discussion focused on the following issues:
- Can businesses expect compensation for damages caused by the war?
- What international mechanisms are already being established to recover losses?
- What do companies need to do today to ensure they do not miss the opportunity for future payouts?
The international compensation mechanism for Ukraine is currently being developed and comprises three key elements:
- The Register of Damage for Ukraine (RD4U);
- The Compensation Commission, which will subsequently review applications and determine the amount of compensation;
- The Compensation Fund, from which payments will be made.
For Ukrainian businesses, the operation of the Register of Damage for Ukraine (RD4U) and the opportunity to submit claims under the categories already open for damaged or lost assets remain relatively unfamiliar areas.
The discussion on RD4U brought together representatives of the public sector, businesses and the legal community, including EVERLEGAL Managing Partner Yevheniy Deyneko and Counsel Yuliia Tantsiiura. The active engagement of business representatives and legal professionals demonstrates the growing interest in the international compensation mechanism and its practical relevance for Ukrainian businesses.
EVERLEGAL Counsel Yuliia Tantsiiura emphasised that RD4U is an international institution whose primary purpose is to demonstrate to the world the full scale of damage and destruction caused to Ukraine through Russia’s blatant violations of international law and fundamental international principles. Ukrainian businesses should actively report war-related losses, ensuring that the international community cannot ignore the consequences of the ongoing aggression.
Commenting on the role of the Register of Damage for Ukraine (RD4U) for Ukrainian business, EVERLEGAL Counsel Yuliia Tantsiiura noted:
“The international order must be built on the rule of law, recognition and respect for state sovereignty, and respect for human rights, rather than the ‘right of the strongest’. Submitting claims to the RD4U is our chance to remind the world of this once again.”
The participants also discussed the future compensation mechanism for Ukraine and the importance of properly documenting losses already today. This is particularly important for businesses, as the following categories of losses may be included in the international register:
Damage or destruction of property:
- Loss of control over assets in temporarily occupied territories
- Costs associated with the relocation of enterprises
- Lost income and profits
- Other economic losses caused by the war
The discussion on the RD4U served as a platform for key market experts, including EVERLEGAL Managing Partner Yevheniy Deyneko. The involvement of thought leaders signifies that the Ukrainian business community has its finger on the pulse of innovative changes and is ready to integrate this institution into the market.
An important practical conclusion for business: Currently, there is no single document that can guarantee compensation. It is essential to start systematically documenting damages today and to keep all documents that can prove losses for future submission to international compensation mechanisms.
Such documents include:
- Site inspection reports
- National Police documents
- Security Service of Ukraine (SBU) materials
- Expert assessments/conclusions
- Photo and video evidence
- Media reports
- Documents from local government authorities
- Internal company records
- Results of inventory of damaged property
- Valuation reports regarding damages
Experts also discussed how the international compensation mechanism will interact with Ukrainian support programs, such as "eRecovery" (єВідновлення), noting that these systems are not mutually exclusive, and international compensation may cover portions of losses not already reimbursed by the state.
We sincerely thank Kateryna Glazkova and the entire team at the Union of Ukrainian Entrepreneurs for the invitation and the opportunity to join this important discussion!
- Learn more about Yevheniy Deineko via following link.
- Learn more about Yuliia Tantsiura via following link.
- For questions and consultations, please contact us by filling out a short form.
