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Switzerland worried about what could happen if EU uses Russian assets

Authorities of Switzerland "keep an eye on international discussions around funds of the Russian Central Bank, including the latest plans of the European Commission," Francoise Tschanz said

GENEVA, October 6. /TASS/. The Swiss authorities are concerned about the potential ripple effect to the global financial system from the European Union using frozen Russian assets to allocate new loans for Ukraine, Francoise Tschanz, the Press Secretary of the Swiss State Secretariat for Economic Affairs (SECO), told TASS.

Authorities of Switzerland "keep an eye on international discussions around funds of the Russian Central Bank, including the latest plans of the European Commission," she said.

"For Switzerland, it’s of the utmost importance that any approach agreed at the international level fully conforms to principles of jurisprudence and international law and ensures financial stability, in order to avoid unintended consequences for financial markets and future operations of central banks in the international financial system," Tschanz noted.

On September 10, President of the European Commission Ursula von der Leyen said that her institution will not confiscate Russian assets frozen in the West but will use them to grant loans to Ukraine. The Politico news outlet reported later about the Commission plans to allocate a "reparation loan" to Ukraine in the amount of 140 bln euro from frozen Russian assets.

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