In Switzerland, the assets of the Russian Federation were frozen by almost $ 8.3 billion: whether Ukraine will receive money
3 billion reserves and assets of the Central Bank of the Russian Federation. This is stated on the website of the Federal Council of Switzerland. The information was received in the Federal Council of the country on May 10, 2023, after the decision on the mandatory submission of reports on reserves and assets. Reporting obligations are also applied to the EU in accordance with the EU sanctions against Russia.
This amount of assets should be distinguished from another amount of frozen funds and assets in Switzerland ($ 8. 4 billion). Reporting on the reserves and assets of the Central Bank of Russia remains mandatory, and the reporting will be carried out regularly quarterly. "The EU is discussing whether to invest the assets of the Russian Central Bank, and the received funds will use the restoration of Ukraine. Switzerland closely monitors these discussions," the Federal Council said.
At the same time, according to Switzerland's spokesman, the country's authorities consider it legally possible to use the money of the Central Bank of the Russian Federation for the restoration of Ukraine after the war. At the beginning of 2023, the Bloomberg reported that the EU was considering the possibility of combining blocked assets at the Russian Union at the EU level or internationally to generate a profit that could be used to finance Ukraine's restoration.
That is, it is not about the transfer of confiscated funds of the aggressor, but only about the referral to the needs of Ukraine of interest income. At the same time, Vitaliy Shapran, an economist, a member of the Financial Analytics Society, said focus that Ukraine could get Ukraine from the EU within the confiscation may be at 300-400 billion euros. The final amount depends on the euro rate and the speed of European competent authorities to find assets.