The OSCE Parliamentary Assembly adopted the Hague Declaration

Those who breach sanctions and those who help russia circumvent the restrictions must be held financially accountable for the consequences of the aggression. The OSCE Parliamentary Assembly included this approach in the Hague Declaration of its 33rd Annual Session. The vote took place on Wednesday, 8 July.

The point is that those who breach the sanctions regime (individuals and companies, not just russia) must compensate the victims of russian aggression for the damage caused.

The proposal was presented in The Hague by MP Pavlo Frolov, and experts from the IZI (Institute for Legislative Ideas) think tank, who have been working on this mechanism since 2023, were involved in its development.

The Parliamentary Assembly has called on OSCE participating States to establish mechanisms whereby funds derived from the confiscation of assets or sanctions violations can be channelled towards compensating Ukraine for the losses incurred, as well as supporting those affected by russian aggression.

This approach is already being implemented in some countries. For instance, the US and Lithuania have already transferred around $6 million in confiscated funds and fines to Ukraine.

“Our task is to make this approach a common international principle. After all, justice dictates that the consequences of the war should be borne by those who help the aggressor circumvent sanctions, not by the citizens of democratic states,” emphasised Pavlo Frolov.

Source: LIGA.net