C.F.M. Files: Lot M–88: Box 2061: CFM Documents
Memorandum by the Soviet Delegation at the Council of Foreign Ministers36
Draft Peace Treaty With Italy: Reparation
The following proposal is tabled in substitution for Part VII of the U.K. Memorandum of 12th September, 1945 (document C.F.M. (45)3) “Claims arising out of the war”:37
- Italy admits liability for the damage done to the Associated Powers by her participation in the war on the side of Germany, but in view of the fact that Italy was the first of the Axis Powers to break with Germany and place herself on the side of the Allies it is acknowledged [Page 127] that reparation for the said damage to the Associated Powers shall be made by Italy, not in full, but only in part.
- Italy shall pay reparation over a period of six years to the Soviet Union, Yugoslavia, Greece and Albania to the amount of U.S. $300,000,000, it being understood that the share of the U.S.S.R. shall be U.S. $100,000,000.
- Italy shall pay reparation by means of the removal of Italian industrial equipment (equipment of war factories, machine tools, etc.) which was used during the war for the manufacture of armaments, and also at the expense of other industrial units which were created for military purposes and which are surplus to the peace requirements of Italy. The foreign assets of Italy, gold returned to Italy and the property of war criminals shall also be used for payment for reparation. Reparation may also be paid from the current output of the Italian economic system.
Paris, 27 April, 1946.