Switzerland holds CHF7.4 billion of Russian central bank assets
Since March 25, 2022, all transactions related to the management of reserves and assets of the Central Bank of the Russian Federation have been prohibited
Keystone / Maxim Shipenkov
The total amount of reserves and assets of the Russian central bank held in Switzerland is CHF7.4 billion ($8.3 billion).
This content was published on
2 minutes
swissinfo.ch/ts
Español
es
Suiza posee 7 400 millones de francos suizos en activos del banco central ruso
The government was informed of this by the economics ministry on Wednesday, having decided on March 29 to make the reserves and assets subject to a reporting requirement, it said in a statementExternal link.
Individuals, organisations and entities that hold, control or are counterparties to reserves and assets of the Central Bank of the Russian Federation had to report this information to the Swiss State Secretariat for Economic Affairs (SECO) by April 12. The reporting obligation also applies in the European Union in accordance with the EU sanctions against Russia.
Since March 25, 2022, all transactions related to the management of reserves and assets of the Central Bank of the Russian Federation have been prohibited. This means the bank’s assets have been immobilised.
More
More
Could Switzerland seize Russia’s foreign reserves for Ukraine reconstruction?
This content was published on
To know if this controversial idea is feasible, Switzerland must wade through a host of prickly legal questions.
This sum of immobilised assets should be distinguished from the sum of frozen funds and assets in Switzerland (CHF7.5 billion), the government said. The latter are those owned or controlled by sanctioned individuals, companies or entities and are subject to the freezing of assets as set out in Article 15 of the Ordinance on Measures Relating to the Situation in Ukraine.
The government said it remains mandatory to report reserves and assets of the Russian central bank, and reporting will take place regularly, on a quarterly basis. “In the event of extraordinary and unforeseen loss or damage, there is an obligation to report this immediately to SECO,” it said.
In the EU there are ongoing discussions on whether assets of the Russian central bank should be invested and the proceeds used for the reconstruction of Ukraine. Switzerland is following these discussions closely, the government said.
More
More
Swiss government refuses to confiscate Russian assets
This content was published on
The Swiss government says the confiscation of private Russian assets would undermine the Swiss constitution.
Beer sales in Switzerland watered down by bad weather
This content was published on
The past brewing year fell through in Switzerland, partly due to the bad weather. Beer sales shrank again. For the first time, per capita consumption fell below the 50 liter mark.
Compensation for Syrian after pregnant wife denied help on Swiss train
This content was published on
Switzerland’s Federal Court has partially upheld the appeal of a Syrian family being deported from Switzerland to Italy in 2014. The man now also receives compensation.
Swiss-EU negotiations: Cassis to meet Sefcovic in Bern
This content was published on
Swiss Foreign Minister Ignazio Cassis will meet the Vice-President of the EU Commission, Maros Sefcovic, in Bern on Wednesday.
Heavy snowfall in Switzerland causes traffic chaos and accidents
This content was published on
The heavy snowfall late on Thursday and during the night into Friday led to traffic chaos and many accidents in many regions of Switzerland.
Chimpanzee behaviours passed down through generations
This content was published on
Some of the complex behaviours of chimpanzees have been passed down and refined over generations. These include the combination of several tools for foraging.
More than 600,000 rounds of Swiss sniper ammunition reach Ukraine
This content was published on
Sniper ammunition from Swiss P Defence reached Ukraine via a Polish company in July 2023, reported SRF Investigativ on Thursday, citing official information.
Switzerland launches national digital inclusion alliance
This content was published on
The Swiss government launched the Swiss Digital Inclusion Alliance on Thursday with the goal of giving as many people as possible access to digital services.
Swiss voters could have final say on confiscating Russian money
This content was published on
No quick decisions should be made when discussing the confiscation of Russian assets for the reconstruction of Ukraine, says foreign minister.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.