Switzerland believes that confiscation will not be limited to Russian assets.
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The USA and other countries began to pressure Switzerland to get access to Russian assets for the reconstruction of Ukraine after the war. The Swiss publication Neue Zürcher Zeitung writes about it.
It is known that Switzerland has blocked a lot of Russian assets – financial assets worth about 7.5 billion francs plus 15 real estate objects. However, difficulties arose with their further use.
The value of private property
According to the Minister of Foreign Affairs Ignazio Cassis, the confiscation of funds from countries or private individuals is a delicate matter for Switzerland.
However, this issue is a big international topic.
Several sources in various departments say that the pressure on Switzerland will continue to increase. This topic comes up during numerous informal contacts. Confiscation is supported by the USA, Eastern European countries and Ukraine.
The Swiss federal government responded to the discussions and created a working group to study this issue.
It is not known exactly how many funds of the National Bank of Russia are stored in Switzerland. The Swiss National Bank (SNB) has no business relationship with him. Up to 2 percent of the funds of the central bank of Russia are kept in Swiss banks, but not in the SNB.
Not only Russians may suffer
Franz Grüter, who heads the Commission on Foreign Policy, opposes the confiscation of Russian assets Switzerland.
“We must not suddenly abandon our principles of the rule of law,” he said.
Grüter fears that other conflicts will also lead to expropriation.
In November, the US added several Swiss companies and citizens to its sanctions list. Among them is Oleksandr-Walter Studhalter and a number of related companies. Washington accuses the native of Lucerne of being a central figure in the network of Russian oligarch Suleiman Kerimov.
Read also: EU wants to use frozen Russian assets to finance the reconstruction of Ukraine
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In addition , the U.S. Treasury Department has sanctioned chip maker Milur and its director, Jacques Pachet. According to the publication, this company helped circumvent sanctions against the Russian military industry.
