Switzerland has decided not to seize income from frozen Russian assets held in Swiss banks.
Swissinfo reports this.
According to Switzerland's laws and international obligations, the state cannot receive extraordinary income related to the Russian central bank's funds.
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The agency clarifies that this position concerns specifically Switzerland.
As of April 2024, the total value of the Central Bank of the Russian Federation assets frozen in Switzerland amounted to CHF 7 billion (EUR 7.08 billion).
These funds do not include frozen assets held by individuals and legal entities associated with Russia.
Assets of the Russian Federation — The EU has allocated the first tranche of €1.5 billion to Ukraine
On July 26, the European Commission announced the first tranche of frozen Russian assets, which were transferred to Kyiv.
They indicated that the first tranche of income from frozen Russian assets will provide specific support to Ukraine.
In particular, they intend to finance the purchase of priority military equipment, in particular air defense systems and artillery ammunition, with €1.4 billion allocated to the European Peace Fund.
