GENEVA, April 23. /TASS/. For the moment there are no legal grounds for the confiscation of Russian assets located in Switzerland, Bern is awaiting a decision from the European Union in this regard, the State Secretariat for Economic Affairs (SECO), which is responsible for export and sanctions control, told TASS.
"It does not yet exist a legal ground; and the Swiss government has not yet decided how to handle this topic. We wait for the EU," SECO official representative, Fabian Maienfisch, said.
When asked whether the Swiss government will be guided by its geopolitical interests when deciding on the possible confiscation of Russian assets, Maienfisch replied: "Swiss geopolitical interests are one point out of many different."
Earlier SECO stated that the Swiss authorities will make a decision on seized Russian assets, relying on the position of other countries on this issue, as well as the country’s legislation.
Russian assets
Earlier on Tuesday, SECO reported that the amount of frozen assets is distinct from the reserves and assets of the Central Bank of the Russian Federation held in Switzerland, worth some 7.24 bln Swiss francs (about $7.93 bln at the current exchange rate). The value of other Russian assets that were frozen by the country's authorities as part of the sanctions fell to 5.8 bln Swiss francs (approximately $6.36 bln) for 2023. SECO also indicated that over the past year the authorities additionally froze financial assets worth 580 mln Swiss francs (about $636 mln), blocked two real estate properties and unblocked Russian-related assets worth 290 mln Swiss francs (about $318 mln) due to the lifting of sanctions EU from a number of persons, as well as after clarifying the origin of some funds. Switzerland, which is not a member of NATO and the EU, supports Western sanctions against Russia, imposed due to the special military operation in Ukraine. In March 2022, the Russian government approved a list of foreign states and territories committing unfriendly actions against Russia, its companies and citizens. Switzerland is on the list.