The Bern official said it would not follow the EU’s strategy because it would not generate “any extraordinary income.”
Switzerland will not transfer proceeds from Russian fixed assets to Ukraine, as the European Union has done. The State Secretariat for Economic Affairs said the country would not follow the EU strategy. Swissinfo reported it.
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According to international obligations and laws, the country cannot generate “any extraordinary income related to funds from the central bank of Russia,” government officials said.
As of April 2024, the total value of Russian central bank assets frozen in Switzerland reached more than seven billion Swiss francs.
These funds are separate from fixed assets held by individuals or companies associated with Russia.
Switzerland follows a policy of neutrality. It did not provide Ukraine with weapons or other lethal aid, but provided humanitarian support. The country also supported sanctions against Russia.
More than 50 sanctions cases against the Russian Federation have been initiated in Switzerland
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.