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Switzerland: 8 billion reserves of the Russian Central Bank are deposited with us

2023-05-10 21:27:06, Kosova & Bota CNA
Switzerland: 8 billion reserves of the Russian Central Bank are deposited with
A financial institution in Switzerland.

A total of 8.3 billion dollars of reserves and assets of the Central Bank of Russia are deposited in the Swiss state. This fact was announced on Wednesday by the Ministry of Economy in Switzerland.

The publication of these data followed an earlier decision that obliges Swiss financial institutions to report these funds, similar to how it works in the European Union.

Any transaction related to the management of these reserves and assets has been prohibited since March 25 of last year.

In addition to the assets of the Central Bank of Russia, Switzerland has other frozen Russian assets worth about 7.5 billion Swiss francs.

These belong to people, companies or organizations that are under international sanctions due to the Russian attack on Ukraine, which began in February 2022.

"Discussions are continuing in the EU whether the assets of the Central Bank of the Russian Federation should be used for investment and their income used for the reconstruction of Ukraine," the Swiss government said, reports the DPA news agency.

In addition to the EU, many other countries, including the US, have imposed sanctions on various Russian officials as well as businessmen linked to the Kremlin./ REL





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