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.
This content was published on
A majority of Swiss citizens have open attitudes towards various infertility treatments, including even egg donation, which is currently prohibited.
Reports of Swiss cyber fraud almost doubled in six months
This content was published on
The head of the new Federal Office for Cybersecurity (FOC), Florian Schütz, has presented a new strategy after just over four months in office.
Ecological status of Swiss streams insufficient according to study
This content was published on
Pesticide use and obstructions of waterways have a particularly negative impact on sensitive organisms, completely absent in 70% of streams analysed.
Train line between Brig and Domodossola interrupted
This content was published on
One day after a derailment approximately 15 kilometres from the Swiss border, BLS is running buses for passengers between Preglia and Domodossola, in Italy.
Swiss football boss wants crackdown on individual hooligans
This content was published on
The head of the Swiss Football League says he prefers a harsher approach to individual hooligans rather than collective punishment measures affecting all fans.
Amherd: Council of Europe is ‘as urgently needed as ever’
This content was published on
The Swiss government emphasised on Sunday the vital role of the Strasbourg-based Council of Europe, 75 years after it was founded.
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.