News date: 24 November 2023
Marina Riashchenko, Attorney at Law, Counsel at Ilyashev & Partners Law Firm, delivered a speech at the II Conference “Compensation for War Damage”, held on 21 November 2023 in Kyiv. The event was organized by Yurydychna Praktyka Publishing House.
In her speech entitled National Case Law on Compensation for Damage Owing to Russian Aggression Marina Riashchenko analyzed current judicial practice of the national courts of Ukraine regarding consideration of claims for compensation of damage where the defendant is the Russian Federation and special aspects of consideration of civil and commercial claims.
“There have already been positive court decisions made in favor of the affected companies and confirming the validity of their claims for compensation for actual damages and lost profits incurred as a result of the armed aggression of the Russian Federation. However, obtaining a court decision on compensation for damages in a national court is only the beginning of the struggle for compensation. It is necessary to work on international and national mechanisms to ensure that businesses actually receive funds for the damages incurred,” – Marina Riashchenko emphasized.
The session participants discussed the algorithms and existing methods of compensation for damage, the creation of an international compensation mechanism, the role of the Asset Recovery and Management Agency (ARMA) in the finding and tracing of sanctioned assets, as well as the state of combating crimes committed in the conditions of an armed conflict.
The II Conference “Compensation for War Damage” is an annual specialized event for representatives of the legal community, government agencies and business for the purpose of finding ways and mechanisms to compensate Ukraine for the damage caused as a result of the full-scale aggression of the Russian Federation.