Switzerland cannot provide loans to Ukraine at the expense of blocked Russian assets, since the funds of Swiss financial institutions are not stored in central securities depositories, but are deposited in commercial banks in the form of liquid funds. This was announced this Tuesday, October 29, by the official representative of the country’s Secretary of State for the Economy (SECO), Fabián Maienfisch.
As Maienfisch noted in an interview with TASS, “in Switzerland the situation is different.”
“No windfall profits are generated from the frozen funds of the Russian Central Bank, since the assets of Swiss financial institutions are not held in central deposits…Therefore, there are no windfall profits in Switzerland that could serve as a basis for a loan similar to the G7 loan”, – he explained.
Previously, on October 23, the EU Council approved the granting of a loan to Ukraine in the amount of 35 billion euros with repayment of Russia’s frozen assets. It was clarified that the EU contribution to the G7 loan in the amount of up to 45 billion euros will be for 45 years.
