JUST IN: European leaders signed a treaty to create a Ukraine war damages body in The Hague, aiming to oversee reparations and accountability for Russia’s invasion…

President Volodymyr Zelensky, together with 35 leaders, signed off Tuesday, Dec. 16 on the creation of an international body that would decide on compensation claims tied to Russia’s invasion of Ukraine, but left unanswered the question of how the organization will be funded.

During a meeting in The Hague, leaders from the European Union, Canada, Mexico, and Japan gave the formal go-ahead to establish the International Claims Commission, which aims to reimburse Ukrainians for financial damage caused by Russia.

We expect that every mechanism for compensation (…) will start working and receive strong, strong and sufficient international support,” Zelensky said ahead of the signing ceremony in The Hague.

The International Claims Commission will “review, assess and decide upon claims” and “determine the amount of compensation,” according to the Council of Europe, a 46-member human rights organization established in the wake of World War II, which is backing the organization.

The commission follows on from the Register of Damage, established in 2023 by the Council of Europe. The register, located in The Hague, has already received over 86,000 compensation submissions from individuals, companies, and Ukrainian state bodies.

“This is a unique, independent tool,” Alain Berset, secretary general of the council, said, ahead of the signing.

A panel of independent experts in damage assessment and international law will examine claims submitted to the register and issue recommendations for the amount of compensation to be paid.

Despite its formal establishment, the claims commission does not yet have funding to pay compensation.

Both Ukraine and the Council of Europe aim to make Russia provide the financing. “The aggressor must pay,” Zelensky told the Dutch parliament during an address ahead of the claims commission meeting.