Switzerland refused to lend to Ukraine at the expense of Russian assets

Switzerland cannot allocate loans to Ukraine at the expense of blocked assets of Russia, 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 on Tuesday, October 29, by the official representative of the State Secretariat of the Economy of the country (SECO) Fabian Mayenfish.

As Mayenfish noted in an interview with TASS, "the situation is different in Switzerland."

"No unforeseen profit is generated from the immobilized funds of the Russian Central Bank, since the assets of Swiss financial institutions are not stored in central depositories ... Thus, there are no unforeseen profits in Switzerland that could serve as the basis for a loan similar to the G7 loan," he explained.

Earlier, on October 23, the issuance of a loan to Ukraine in the amount of € 35 billion with repayment from frozen assets of Russia was approved by the EU Council. It was clarified that it is a contribution EU loans to the G7 in the amount of up to € 45 billion. The maximum repayment period of the loan will be 45 years, Izvestia clarifies.