The Swiss Federal Council recognized that the confiscation of Russian private assets and their further transfer to Ukraine is illegal, as it contradicts the constitution of the confederation and violates the right to private property. Statement about it published on the website of the Swiss government.
“The working group concluded that the seizure of private assets of legitimate origin without payment of compensation is unacceptable under Swiss law. The confiscation of frozen private assets is inconsistent with the federal Constitution and violates Switzerland’s international obligations“, the commission said in a statement.
Nevertheless, the Swiss government expressed its readiness to continue supporting Ukraine, as well as to explore the possibility of seizing Russian state assets and tightening penalties for violating sanctions.
Earlier, Switzerland froze $8.1 billion worth of Russian private assets located in the country. In addition, the Swiss bank Credit Suisse imposed its own sanctions, freezing more than $19 billion worth of assets stored in it. After that, there were proposals to transfer the frozen assets to Kyiv.
The possibility of confiscation of Russian assets is also being considered in the UK.
