GENEVA, April 19. /TASS/. The Swiss Confederation has refused to join the international task force called Russian Elites, Proxies and Oligarchs, which the West established to look for Russia-related assets and seize them under sanctions, the Swiss news website SRF reported on Wednesday, citing a statement from the Federal Department of Economic Affairs, Education and Research.

"Cooperation [between Switzerland and REPO member countries] is running without problems. Telephone calls are made and in-person meetings are held with representatives of sanctions agencies of respective countries, there’s an exchange of correspondence and so on. Therefore, Switzerland sees no reason to formally join the Task Force at present," the statement said, according to the news website.

If the Swiss government comes to believe that formal membership in the task force is in Switzerland's interest in the future, it may reconsider.

The REPO task force includes finance and justice ministers from the US, representatives of Australia, the UK, Germany, Italy, Canada, France, Japan and the European Commission.