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Switzerland will not transfer profits from frozen russian assets to Ukraine

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Switzerland refused to transfer to Ukraine the profits from frozen russian assets in its banks. This decision is explained by Swiss law and the country's international obligations.

Switzerland will not transfer profits from frozen russian assets held in Swiss banks to Ukraine. This was reported by SWI swissinfo, UNN reports.

Details

The European Union has announced the allocation of €1.5 billion in aid to Ukraine using frozen russian assets. This decision was part of the EU's efforts to support Ukraine in the face of the war that has been going on since 2022.

However, Switzerland decided not to join this initiative. The State Secretariat for Economic Affairs confirmed that due to Swiss law and international obligations, the country cannot generate income from the frozen assets of the russian central bank.

Currently, russian assets worth more than CHF 7 billion have been frozen in Switzerland.

Switzerland joins the 14th EU sanctions package against russia09.07.24, 13:50

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