Switzerland Should Be a Pioneer in Rebuilding Ukraine
- 28 Sep 2023 3:52 pm CET
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The Swiss government has approved five motions calling for the creation of international legal frameworks for reparations payments from Russian state assets to Ukraine. The motions were passed by the National Council and the Council of States with a majority vote. The motions call for the Federal Council to take measures to create international legal foundations for a reparation mechanism in favour of a state that has been attacked in violation of international law and at the expense of the state assets of the warring aggressor. This would involve reparations payments to Ukraine from Russian state assets. Currently, around 300 billion Swiss francs of Russian central bank funds are frozen. International discussions are underway to introduce an international reparation mechanism, and Switzerland is actively following these discussions and intends to contribute its recognized expertise in international law. A working group led by the Federal Office of Justice concluded in February that private Russian assets cannot be seized unless they have an unlawful origin.