Ukraine's Zelenskyy proposes formal deal on compensation from Russia

Funds would be confiscated and used to help rebuild cities damaged by war

President Volodymyr Zelenskyy has proposed funds from Russia would be confiscated and used to rebuild Ukraine. Reuters.

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Ukrainian President Volodymyr Zelenskyy on Friday proposed a formal deal with the country's allies to secure Russian compensation for the damage its forces have caused during the war.

Mr Zelenskyy, who says Russia is trying to destroy as much of Ukraine's infrastructure as it can, said such a deal would show nations planning aggressive acts that they would have to pay for their actions.

"We invite partner countries to sign a multilateral agreement and create a mechanism ensuring that everybody who suffered from Russian actions can receive compensation for all losses incurred," he said in a video address.

Mr Zelenskyy said that under such a deal, Russian funds and property in signatory nations would be confiscated. They would then be directed to a special compensation fund.

"That would be fair. And Russia will feel the weight of every missile, every bomb, every shell which it has fired at us," he said.

Canada said last month it would change its sanctions law to allow for seized and sanctioned foreign assets to be redistributed as compensation to victims or to help in rebuilding a foreign state from war.