Switzerland holds CHF7.4 billion of Russian central bank assets
Since March 25, 2022, all transactions related to the management of reserves and assets of the Central Bank of the Russian Federation have been prohibited
Keystone / Maxim Shipenkov
The total amount of reserves and assets of the Russian central bank held in Switzerland is CHF7.4 billion ($8.3 billion).
This content was published on
2 minutes
swissinfo.ch/ts
Español
es
Suiza posee 7 400 millones de francos suizos en activos del banco central ruso
The government was informed of this by the economics ministry on Wednesday, having decided on March 29 to make the reserves and assets subject to a reporting requirement, it said in a statementExternal link.
Individuals, organisations and entities that hold, control or are counterparties to reserves and assets of the Central Bank of the Russian Federation had to report this information to the Swiss State Secretariat for Economic Affairs (SECO) by April 12. The reporting obligation also applies in the European Union in accordance with the EU sanctions against Russia.
Since March 25, 2022, all transactions related to the management of reserves and assets of the Central Bank of the Russian Federation have been prohibited. This means the bank’s assets have been immobilised.
More
More
Could Switzerland seize Russia’s foreign reserves for Ukraine reconstruction?
This content was published on
To know if this controversial idea is feasible, Switzerland must wade through a host of prickly legal questions.
This sum of immobilised assets should be distinguished from the sum of frozen funds and assets in Switzerland (CHF7.5 billion), the government said. The latter are those owned or controlled by sanctioned individuals, companies or entities and are subject to the freezing of assets as set out in Article 15 of the Ordinance on Measures Relating to the Situation in Ukraine.
The government said it remains mandatory to report reserves and assets of the Russian central bank, and reporting will take place regularly, on a quarterly basis. “In the event of extraordinary and unforeseen loss or damage, there is an obligation to report this immediately to SECO,” it said.
In the EU there are ongoing discussions on whether assets of the Russian central bank should be invested and the proceeds used for the reconstruction of Ukraine. Switzerland is following these discussions closely, the government said.
More
More
Swiss government refuses to confiscate Russian assets
This content was published on
The Swiss government says the confiscation of private Russian assets would undermine the Swiss constitution.
Train vs plane: would you take a direct train between London and Geneva?
Eurostar is planning to run direct trains from Britain to Germany and Switzerland from the early 2030s. Would you favour the train over the plane? If not, why not?
Zurich arbitration authority rules in favour of tenants of ‘Sugus Houses’
This content was published on
A conciliation authority says the terminations of 105 flat leases in the so-called "Sugus Houses" in the centre of Zurich were abusive. The tenants therefore do not have to move out - at least for the time being.
This content was published on
Visitors to Switzerland spent CHF19.6 billion ($23.9 billion) last year, a 2.2% rise compared to the previous year, the Federal Statistical Office (FSO) said on Monday.
This content was published on
Despite the current tense economic situation, Swiss consumer sentiment remains positive. The Swiss spent more money in May than the previous year, particularly on restaurant visits and leisure activities, as shown by the latest figures released by PostFinance.
This content was published on
A bear killed four sheep in the Lower Engadine region near Scuol, canton Graubünden, last week. This was the first bear attack on local livestock in four years.
This content was published on
Experts believe that economic development in Switzerland will be weaker in 2026 than the forecasts made three months ago. They have also lowered their predictions for the current year.
This content was published on
Fewer people in Switzerland have a religious affiliation and the proportion who practice their religion regularly is steadily declining, a survey finds.
Study: trees have major cooling effect even in extreme heat
This content was published on
Plane trees in cities have an important cooling effect even in extreme heat, according to a new study by the Swiss Federal Institute for Forest, Snow and Landscape Research (WSL).
EPFL launches digitised version of Battle of Murten panorama
This content was published on
To mark the anniversary of the Battle of Murten on 22 June 1476, the Federal Institute of Technology Lausanne (EPFL) has launched a website that offers the public an immersive experience of the huge panorama painting of the historic battle.
77th Swiss Gymnastics Festival praised for ‘positive energy’
This content was published on
The 77th Federal Gymnastics Festival drew to a close on Sunday in Lausanne, after eleven days of popular celebration and sporting performances.
Swiss voters could have final say on confiscating Russian money
This content was published on
No quick decisions should be made when discussing the confiscation of Russian assets for the reconstruction of Ukraine, says foreign minister.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.