According to the Security Service of Ukraine (SBU), this marks the first time Ukrainian authorities have exposed a Hungarian military intelligence network conducting activities harmful to Ukraine.
Delegations from 35 countries and the Council of Europe gathered in Lviv as EU officials prepare to approve both new defense aid and steps toward establishing a tribunal for Russian leadership.
The ruling marks a significant victory for RFE/RL amid growing concerns about U.S. funding cuts to independent media countering Russian disinformation.
U.S. Cardinal Robert Prevost was elected the new pope and leader of the Roman Catholic Church on Thursday, taking the name Pope Leo XIV, a senior cardinal announced on May 8 to crowds gathered in St. Peter’s Square, according to Vatican News.
George Simion, leader of Romania's far-right AUR party, who won the first round of the presidential election with nearly 40% of the vote, reiterated that if elected, he would oppose any further assistance to Ukraine and shift Romania’s focus inward.
Russian President Vladimir Putin and Chinese President Xi Jinping hailed their countries' relationship on May 8, vowing to increase cooperation in all areas, including military ties.
"There is Turkey, which maintains channels of communication. And then, above all, there is the People's Republic of China, which, more than anyone else, has the means to make (Russian President Vladimir) Putin come to the negotiating table and soften his demands," Polish Foreign Minister Radoslaw Sikorski said on May 8.
The United States will be ready to "walk away" from the negotiating table if it does not see Russia making progress in negotiation to end the war, U.S. Vice President JD Vance told Fox News on May 8.
Slovak Prime Minister Robert Fico arrived in Moscow on May 9 to celebrate Victory Day, commemorating the 80th anniversary of the defeat of Nazi Germany in World War II.
US President Donald Trump on May 8 called for a "30-day unconditional ceasefire" between Ukraine and Russia. Writing on Truth Social, Trump expressed his hope for "an acceptable ceasefire," with both countries "held accountable for respecting the sanctity of... direct negotiations."
President Volodymyr Zelensky had a "constructive" phone call with United States President Donald Trump on May 8, discussing the war, continued pressure on Russia, and a potential ceasefire.
The survey, conducted between April 24 and May 4, shows that 56.9% of respondents would not be willing to compromise on either territorial integrity or Ukraine’s pro-Western direction in any potential talks with Moscow.
A group of Ukrainians on a small boat tries to block Solaris, a yacht belonging to sanctioned Russian oligarch and billionaire Roman Abramovich, from docking in Bodrum, Turkey, on March 21, 2022. (Irina Demiroglu/Facebook)
No nation can single-handedly cover all of Ukraine's reconstruction needs, and nor should it be expected to, considering the existence of frozen Russian assets worth billions worldwide. These funds will serve as the primary source for Ukraine’s recovery.
To better grasp the situation, it is worth examining the numbers.
Despite 16 months of all-out war, the exact value of frozen Russian assets remains unknown due to banking institutions’ secretive policies and the inaction of certain governments. An optimistic analysis based on publicly available data estimates the sum to be nearly $400 billion. However, this amount is already smaller than the damages inflicted upon Ukraine, which total at least $411 billion.
The ongoing bombardment of critical infrastructure further widens the gap between these figures, and not in Ukraine’s favor. Moreover, the involvement of other claimants, such as “Russians affected by the war,” complicates the situation.
Despite consistent political rhetoric regarding the use of Russian funds for reconstruction, only around $1 billion, or less than 0.3% of the total damages, has been recovered thus far. Notably, Ukraine itself has accounted for 99% of these recovered assets.
According to many Western legal experts, international law poses a barrier to dedicating Russian assets as a means of covering the inflicted damages. Specifically, international customary law safeguards state assets through the principle of "sovereign immunity."
In reality, the debate about asset seizure can be divided into two components: the political aspect of "whether or not" and the legal aspect of "how." If there is political will to seize the assets, lawyers will find a way to accomplish it. Conversely, in its absence, there will be countless reasons presented to justify its impossibility.
"Fair, but illegal" is a popular response to the question of confiscating Russian assets. Without delving deep into legal arguments, a quote from the ancient Roman jurist Ulpian is apt: "Law is the art of goodness and equity." This implies that the essence of law is to ensure justice. It is implausible to consider the conscious impunity of the aggressor as just. Hence, until a fair and transparent mechanism for compensation is established, discussing law and justice at the highest level remains futile.
Furthermore, it is essential to recognize that international law is not immutable like the laws of physics. Like any legal framework, it is subject to changes, especially when its original objectives are not being achieved. Moreover, existing loopholes in international law have contributed to the largest war on European soil since World War II. It is crucial to acknowledge that these loopholes provide a guarantee of impunity for the destruction of critical infrastructure, including social facilities, the abduction, rape, and killing of numerous individuals, the sabotage of dams resulting in the flooding of cities and towns, and even the mining of Europe's largest nuclear power plant, among other atrocities.
As for the second question of "how," the answer is also known.
It is important to differentiate between short-term and long-term perspectives. After 16 months of full-scale war, governments should finally ascertain the assets that have been frozen and consolidate them into a unified fund. This fund should not only ensure the preservation of these assets but also their growth. The management strategy for such assets (which is currently lacking in most countries) should aim to generate maximum profits, which can then be directed toward addressing Ukraine's urgent needs for "critical" reconstruction. According to Ukrainian Prime Minister Denys Shmyhal, these needs currently amount to $14 billion.
The estimated annual revenue from managing Russian assets could range from $3 billion, according to pessimistic projections, to $10 billion, according to optimistic perspectives. Legally, it is straightforward to separate these profits from the principal amount by implementing a special tax regime for "sanctioned assets" at the highest rates. Objectively, these funds alone will not be a game changer for the country's economic recovery, but they will help withstand the challenges.
The strategic plan entails the implementation of the Global Compensation Mechanism, comprised of four components. The first step, already realized, involves establishing a register of damages, as announced during the Council of Europe's Summit of Heads of State and Government held in Reykjavik this May.
The subsequent steps include establishing a Claims Commission and forming a Compensation Fund that will facilitate the reimbursement of registered damages. However, without Russian funds, this mechanism will remain ineffective.
Therefore, the most crucial fourth step involves the conclusion of an international multilateral agreement, which will play a pivotal role. Firstly, it will address the existing loopholes in international law by creating an exception to the rule protecting sovereign assets, specifically for the aggressor country. This measure will prevent Russia from evading responsibility for compensating the damages it has caused. Secondly, it will ensure the financial resources for the Compensation Fund by utilizing Russian funds, thereby activating the compensation mechanism even before the war concludes.
Ultimately, the answer to the question of "how" depends on the answer to the question of "whether or not."
Editor’s Note: The opinions expressed in the op-ed section are those of the authors and do not purport to reflect the views of the Kyiv Independent.
Tetiana Khutor is the chairwoman of the Institute of Legislative Ideas, an independent Ukrainian think tank that provides anti-corruption policy analysis, and a non-resident fellow at the Centre for Defence Strategies. Khutor was a legislative director for the Ukrainian Anticorruption Parliament Committee head from 2015-2018. She is also a senior lecturer on anticorruption policy and asset recovery at the National University of "Kyiv-Mohyla Academy" and holds a Ph.D. in law focusing on civil confiscation of unjustified assets.
Olena Halushka
