Fabian Mayenfisch, spokesman for the Swiss State Secretariat for Economic Affairs (SECO), said Swiss banks cannot use Russian money frozen in the country for their own purposes. DEA News.
He stressed that they have no right to do so.
“With frozen assets, no real portfolio management, i.e. raising new investments, selling assets or changing income is allowed,” Mayenfish said.
According to him, any action that allows the management or use of frozen assets is prohibited. As Meienfisch points out, exceptions are normal administrative activities carried out by financial institutions. We are talking about accounting for the usual interest or commissions on the account.
formerly Switzerland approvedHe said there was no legal basis for the transfer of Russia’s frozen assets to Ukraine. A working group led by the Swiss Federal Office of Justice (FJU) came to the relevant conclusion.
On February 14, it was learned that as part of international sanctions, the Swiss government has blocked a total of $8.1 billion in Russian assets, but the total loss may be greater due to the fact that local bank Credit Suisse may freeze other Russian assets. Antje Bertschy, spokesperson for the Swiss State Secretariat for Economic Affairs (SECO), said sanctions were imposed by other Western states.