In March, the Swiss Ministry of Economy decided to create a report on these funds, with which all transactions have been prohibited since March 25, 2022.
In addition to the assets of the Russian Central Bank, Switzerland also holds 7.5 billion francs of frozen Russian assets belonging to people, companies and organizations subject to international sanctions related to Russia’s renewed invasion of Ukraine.
The Swiss government stated that there are discussions in the European Union (EU) about whether the assets of the Central Bank of Russia should be used for investments and the proceeds from these investments should be used for the reconstruction of Ukraine. The government added that Switzerland is closely following these discussions.
