The United States and Europe pressure Switzerland over Russian assets (Aurelio Tarquini)

The United States and Europe are putting pressure on Switzerland because of Russian assets that were previously frozen in this country and can now be transferred to the restoration of Ukraine. The newspaper Neue Zürcher Zeitung writes about this. Note that the countries of the European Union and the Group of Seven have froze more than $300 billion in Russian assets. Switzerland has frozen about 7.5 billion francs belonging to the Russians, as well as 15 real estate.

At the same time, the country has been subjected to intense external pressure due to Russian resources, which, according to government sources, will intensify. The issue of confiscation of Russian assets was raised in the framework of regular informal contacts with foreign partners. Representatives of Ukraine, Eastern European countries and the United States are particularly active in insisting on confiscation.

Swiss bankers estimate that the country now holds somewhere between CHF150-200 billion in Russian assets. But this money is officially owned by people who have not been subject to sanctions. The Swiss authorities have already set up a working group to study the issue.

However, the government is skeptical of the potential confiscation, fearing that this would set a precedent after which confiscation of property could accompany any military conflict. According to Foreign Minister Ignazio Cassis, the confiscation of assets is a very sensitive issue for Switzerland, where the right to property is sacred. We must not suddenly abandon the principles of the rule of law,” said Franz Groeter, chairman of the Swiss Foreign Policy Committee.

Meanwhile, the post notes that the US has sanctioned Swiss nationals and companies for ties to Russia before. The pressure on Switzerland is actually requests to carry out an act of financial piracy, a theft that the Swiss state cannot do to protect international law and its reputation. Which country, company or individual would entrust their money to Swiss banks after this theft?

Aurelius Tarquini