d through a treaty signed by representatives of 35 countries during a conference in The Hague on Tuesday. The commission will be responsible for reviewing reparations claims and determining compensation amounts related to war damage inflicted on Ukraine. Ukrainian President Volodymyr Zelenskyy , speaking alongside European leaders including Dutch Prime Minister Dick Schoof and EU foreign policy chief Kaja Kallas , said holding Russia financially accountable is essential to achieving lasting peace. “Making Russia pay for its crimes is exactly where the real path to peace begins,” Zelenskyy said. “This war and Russia’s responsibility for it must become a clear example so that others do not choose aggression.” The initiative comes amid a United States-led diplomatic push to bring the war to an end. US President Donald Trump said on Monday that a potential agreement was “closer than ever” following talks with the leaders of Ukraine, France, Germany, the United Kingdom, and NATO. Reparations Seen as Key to Accountability The Netherlands-based commission will operate under the coordination of the Council of Europe , which includes 46 member states. It follows the creation of a Register of Damages two years ago, which has already received more than 80,000 claims related to destruction and losses in Ukraine. While the commission will determine claims and compensation, discussions are ongoing over how reparations would be paid. Proposals include the use of Russian state assets frozen by the European Union , potentially supplemented by direct contributions from member states. The EU has frozen hundreds of billions of euros in Russian funds held in European financial institutions and is weighing options to use those assets to support Ukraine’s defense and reconstruction. Dutch Foreign Minister David van Weel described the commission as a critical step toward resolving the conflict. “Without accountability, a conflict cannot be fully resolved,” he said. “Part of that accountability is paying for the damage that has been done.” Debate Over Frozen Russian Assets European leaders are facing mounting pressure to decide how frozen Russian assets should be used at an EU summit scheduled to begin Thursday. One proposal under discussion involves issuing a loan to Ukraine , to be repaid using future Russian reparations. Belgium, which hosts Euroclear —the international financial services company holding the majority of frozen Russian assets—has expressed opposition, citing potential legal and financial risks. According to the World Bank , the cost of rebuilding Ukraine from war-related damage as of December 2024 is estimated at $524 billion , nearly three times the country’s annual economic output. That estimate does not include damage from Russia’s intensified attacks on Ukraine’s energy grid and critical infrastructure in 2025.