Both houses of the Swiss parliament decided to transfer frozen Russian assets to Kyiv.
The Swiss Parliament on Thursday, March 7, supported the transfer of Russian fixed assets to Ukraine. We are talking about more than $8 billion in reserves and assets of the Russian central bank, reports France24.
The upper house of the parliament voted 21 votes in favor of the transfer of assets, 19 representatives were against it, and three more abstained. The Lower House approved the initiative last year.
According to the head of the Swiss Foreign Ministry, Ignazio Cassis, Russia violated international law, so it should pay for the damage it caused.
“There are international discussions on compensation mechanisms, and Switzerland is participating with its knowledge, its skills and its entire history in this area,” Cassis added.
The initiative to transfer Russian fixed assets to Ukraine was hotly discussed in Switzerland, where the preservation of the main banking industries and the country’s tradition of neutrality are highly valued.
Switzerland will now try to create the international legal framework necessary to develop a response mechanism at the global level. Its purpose is to allow the fixed funds of the aggressor’s central bank or the assets of its state-owned companies to be legally transferred to the attacked country.
We remind you that on March 1, Switzerland joined the 13th package of EU sanctions against the Russian Federation.
The EU may conclude an agreement on the use of Russian assets for the benefit of Ukraine
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.