Switzerland refuses to transfer frozen Russian assets to Ukraine

Switzerland refuses to transfer frozen Russian assets to Ukraine

Switzerland frozen under sanctions financial assets of the Russians in the amount of 6.7 billion Swiss francs ($6.86 billion) and 15 real estate objects, refused to transfer them to Ukraine. About this RIA Novosti told Fabian Mayenfisch, spokesman for the Swiss Ministry of Economics.

“For the Swiss government, confiscation of assets solely on the basis of belonging to any state or being on the sanctions list and using them to restore Ukraine is currently not an option to support Ukraine,” Mayenfisch said.

The confiscation of assets, as opposed to their freezing, would be “a massive infringement on the security of property and other basic constitutional rights” of the sanctioned individuals, the minister said. At the same time, he noted, Switzerland does not refuse assistance in the restoration of Ukraine.

Former President of Ukraine Volodymyr Zelensky proposed Switzerland to block Russian assets and transfer them to Ukraine.

“I would very much like Switzerland to be able to block Russian assets, and we could absolutely fairly receive compensation for the occupation of Ukrainian territories and for the aggression that Russia committed against Ukraine,” he said during a video communication with the university community and public figures in Switzerland.

As of March 2022 on the accounts of Russians in Swiss banks kept approximately 150–200 billion francs ($154–205 billion). Switzerland after February 24 managed not only to freeze the assets of Russians, but already partially lift sanctions and lift the blocking of 3.4 billion francs.

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