• 14/07/2024 13:43

The Swiss Parliament supported the confiscation of Russian assets in favor of Ukraine

On Thursday, March 7, the Swiss Cantonal Council (the upper house of parliament) supported the idea of ​​​​transferring frozen Russian assets to Ukraine. France24 reports this.

Swiss Parliament supported the confiscation of Russian assets in favor of Ukraine

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< p>During the voting in the upper house of parliament, 29 Swiss deputies supported the initiative, 19 opposed it, and three abstained. The lower house of parliament supported this initiative last year.

The parliament's decision gives the government the opportunity to create an international legal framework for using the assets of aggressor states to pay reparations to affected countries.

The government will develop initiative under which the frozen funds of the aggressor's central bank or the assets of its state-owned companies could be legally transferred to the attacked state.

“Russia has seriously violated international law. Therefore, she must compensate for the harm caused. International discussions are ongoing on compensation mechanisms, and Switzerland is participating, using its knowledge and experience in this area,” said Swiss Foreign Minister Ignazio Cassis.


“Ministry of Finance” wrote that in Switzerland they increased frozen Russian assets to $9 billion. By the end of 2023, the value of sanctioned assets in Swiss francs reached 7.7 billion.

In total, since the beginning of Russia’s full-scale invasion of Ukraine, Western countries have frozen about $300 billion of Russian assets.


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