Switzerland refused to transfer to Ukraine the income from the frozen assets of the Russian Central Bank

Switzerland has refused to transfer to Ukraine the income from frozen Russian assets held in Swiss banks.

This is reported by Swissinfo.

On Friday, the European Union announced the allocation of the first incomes from Russian assets to Ukraine, amounting to one and a half billion euros. However, Switzerland will not follow this example, according to the State Secretariat for Economic Affairs. According to the council’s position, Switzerland, in accordance with national legislation and international obligations, does not have the right to receive incomes related to the assets of the Bank of Russia.

As of April 2024, more than seven billion Swiss francs belonging to Russia are frozen in Switzerland, specifically 7.93 billion.