Citing a report by a group of experts, the government said the expropriation of private assets of lawful origin without compensation was not permissible under Swiss law.
Switzerland froze financial assets worth CHF7.5 billion ($8.1 billion) under sanctions against Russians to punish Moscow for its invasion of Ukraine, the State Secretariat for Economic Affairs said in December.
“Support for Ukraine will continue, independent of the discussions on frozen assets,” the government said on Wednesday.
It had looked into what it could do with the assets following international discussions and parliamentary requests into whether the money could be used to fund reparations for Ukraine.
“The confiscation of frozen private assets is inconsistent with the Swiss constitution and the prevailing legal order and violates Switzerland’s international commitments,” the report said.
“Other countries have similar constitutional rights and guarantees.”
Switzerland’s banks had also been against the confiscation. “There is no legal basis for confiscation today,” the Swiss Bankers Association said last month.
Switzerland, which is not a member of the European Union, has already adopted further sanctions against Russia over the conflict in Ukraine, including the EU’s oil price cap.
Switzerland also adopted the EU’s latest package at the end of January, sanctioning 200 more individuals and announcing new restrictions such as banning exports for the aerospace industry to cover engines for aircraft and drones.
However, the Swiss government’s refusal to send ammunition for German Gepard tanks to Ukraine, or to allow the re-export of Swiss tanks from third countries to Ukraine has repeatedly prompted criticism.
More
Opinion
More
‘Switzerland has the legal basis to use frozen Russian money for Ukraine’
This content was published on
Switzerland can use frozen Russian assets to fund the reconstruction of Ukraine, says anti-corruption expert Mark Pieth.
Is artificial intelligence an advantage or a disadvantage for workers?
What is your experience with AI at work? Have you already used it? Has it helped you work better? Or has it caused you more stress, more work or caused you to lose your job? Tell us about your experiences!
Swiss price watchdog slams excessive prices for generic medicines
This content was published on
The cheapest generic medicines available in Switzerland are more than twice as expensive as in other countries, according to a study by the Swiss price watchdog.
Nature should not figure in net zero calculations: academic study
This content was published on
The natural removal of CO2 from the atmosphere by forests or oceans should not be included in the net-zero balance of climate protection measures, argue researchers.
This content was published on
None of the 15 major Swiss retail banks is meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.
This content was published on
Nestlé's new CEO Laurent Freixe, has presented plans for the future of the world's largest food company, after his first few weeks in office.
Swiss foreign minister calls on Moscow to end Ukraine war
This content was published on
It's high time Moscow ended its war against Ukraine, Swiss foreign minister Ignazio Cassis tells the UN Security Council.
This content was published on
The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.
Study reveals food culture differences between Switzerland and neighbours
This content was published on
Three-quarters of Swiss people consider eating to be a pleasurable, social activity, a new survey reveals. Healthy eating, however, plays a much less important role, it found.
Precious archaeological vases and coins returned to Italian museum
This content was published on
The Italian authorities have recovered over 2,500 precious ancient coins, vases and small sculptures that had been illegally dug up and sold in Switzerland, Eurojust announced on Monday.
Swiss note another slight rise in frozen Russian funds
This content was published on
Since the invasion of Ukraine in February and the start of sanctions, Switzerland has frozen some CHF7.5 billion ($7.9 billion) in Russian assets.
Swiss sanction 30 more individuals after Russian annexations
This content was published on
The Swiss government has added 30 people and seven organisations to its blacklist after Russia annexed four regions of Ukraine.
Swiss adopt Russian oil ban and other sanctions over Ukraine war
This content was published on
The Swiss government has adopted the latest set of European Union sanctions against Russia and Belarus over the war in Ukraine.
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.