Expanded Business Loss Categories Added to International Registry
The International Loss Registry has introduced three new classifications to capture the impact of Russian aggression on businesses. Legal entities can now submit claims for losses and expenses incurred from February 24, 2022, onward. These claims are accepted online via the Diia portal, enabling a more comprehensive documentation of damages linked to the conflict.
Details of the Newly Added Loss Categories
The updated registry now includes the following categories:
- Business Relocation (Evacuation)
- Other Economic Losses
- Humanitarian Expenses
The Business Relocation category (C3.3) covers costs related to evacuating and moving business operations, lost profits, transportation and logistics expenses, restarting business activities, and housing for employees. The Other Economic Losses category (C3.4) accounts for damages that do not fit within the existing registry classifications.
Humanitarian Expenses encompass business expenditures aimed at supporting employees and their families, including evacuation, temporary housing, urgent medical care, and other emergency measures. Additionally, two new categories have been introduced specifically for humanitarian costs (B4) and demining expenses (B5).
"Russian aggression has forced businesses to relocate teams, shift production, invest in employee support, and endure various economic setbacks. Now, legal entities have the opportunity to record even more of these losses in the International Loss Registry through the Diia portal." State Enterprise 'Diia'
The International Loss Registry emphasizes that Russia must be held accountable for every crime committed. This underscores the critical importance of submitting claims and documenting business damages resulting from the aggression.
By expanding the registry’s categories, Ukrainian businesses affected by the war gain a vital tool to formally record their losses and strengthen their case for future compensation. As Russian hostilities continue, the ability for legal entities to document economic harm remains essential for their recovery and ongoing operations.
In light of the recent updates to the International Loss Registry, businesses are now able to submit claims for humanitarian expenditures and demining efforts, which are crucial in addressing the broader impacts of the ongoing conflict. For those interested in understanding the specifics of these newly accepted claims, further details can be found in our article on humanitarian costs and demining claims.