It concerns about 15 billion: Seco boss against expropriation of Russian assets

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For Ukrainian activist Olena Halushka (34), one thing is certain: Switzerland must use the frozen funds of the Russian central bank to rebuild Ukraine. “The UN General Assembly decided in 2022 that Russia must end its aggression and pay reparations to Ukraine,” Halushka said. She heads the international “Center for Ukrainian Victory” and lobbies around the world for the release of ruble balances.

Their appeal was heard in Brussels. Not all the blocked Russian capital should flow to Kiev, but at least the income should flow out. According to EU Foreign Affairs Representative Josep Borrell (76), a large part of the interest income should benefit the Ukrainian army.

In Switzerland, however, Halushka is biting granite. Already in the autumn, the Federal Council rejected a proposal by Franziska Ryser (32), national councilor of the Green Party, to use Russian funds to rebuild the destroyed infrastructure in Ukraine. Federal councilor Guy Parmelin, 64, said this contradicted the current legal system.

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The State Secretariat for Economic Affairs (Seco) has further investigated the Russian funds. Based on the public information law, Blick was able to view an internal analysis by State Secretary Helene Budliger Artieda (59). In it, the Seco boss writes: “The assets of a central bank deposited in Switzerland are protected by the enforcement immunity of state assets.” It is not clear “whether the seizure of such assets” would be compatible with international law.

There are about 7.4 billion francs from the Russian central bank in Swiss accounts and a similar amount is linked to people, companies or organizations that have been sanctioned. The Seco boss believes that the seizure of these assets is even more difficult: “Sanctions are not criminal measures; they do not mean that a person or organization has committed a crime.”

The Seco boss is also convinced that the seizure of assets can have a counterproductive effect: “Sanctions are mainly temporary coercive measures intended to force a state to return to behavior that is compatible with international law. However, the seizure of their assets would leave the affected individuals and companies with no incentive to change their behavior and the measure could ultimately even have a counterproductive effect. »

The Seco boss is closely following the debate within the G7 and EU countries. She doesn’t expect a quick solution. Because Russia is using its veto power in the UN Security Council, which could order reparations. Alternatively, the International Criminal Court could try war crimes and crimes against humanity. “Switzerland has already committed to this,” says the Seco boss. However, the Court can only rule on individuals and not on states.

Source:Blick