REPURPOSING THE £783,827.34 RECOVERED FROM PETR AVEN FOR SURVIVORS OF THE WAR IN UKRAINE - August 2024

REPURPOSING THE £783,827.34 RECOVERED FROM PETR AVEN FOR SURVIVORS OF THE WAR IN UKRAINE August 2024 In line with the UK Prime Minister’s call that Europe “must do more and go further” regarding “Russia’s barbaric war”, REDRESS urges the UK Government to re-direct the £783,827 recovered from sanctioned Russian oligarch Petr Aven to support survivors of the conflict in Ukraine. [...] The forfeiture of Petr Avens’ funds provides a unique opportunity for the UK Government to act on this recommendation and make significant funds available to survivors of the conflict in Ukraine. [...] Given the timing of the transactions, the NCA suspected that their purpose was to disguise the fact that Aven was the ultimate owner of the funds to circumvent anticipated UK sanctions. [...] A joint assessment by the World Bank, the Government of Ukraine, the European Commission and the United Nations published in February 2024 estimated that the total cost of the reconstruction and recovery of Ukraine is $486 billion, which includes damage to infrastructure and to the environment, as well as economic and social losses resulting from the conflict. [...] The Register of Damage for Ukraine, which was set up by an agreement between the Council of Europe, 43 states (including the UK), and the EU to serve as a record of evidence and claims for damage, loss or injury caused to all natural and legal persons concerned, as well as to the State of Ukraine, by Russia’s internationally wrongful acts in or against Ukraine.