SECO: Switzerland has no grounds for confiscation of Russian assets

The authorities of the Swiss Confederation do not have sufficient legal grounds to carry out any confiscation of frozen Russian assets.

This was reported on Tuesday, August 25 by RIA Novosti, referring to the press service of the Swiss State Secretariat for the Economy (SECO). They clarified that this applies to both private assets and those owned by the Central Bank of Russia.

The official representative of the department, Fabian Mayenfish, in response to a request from the publication, confirmed this information. He also spoke about answering the question whether legal proceedings are currently underway regarding the possible confiscation of frozen Russian assets.

"Currently, there are no legal grounds in Switzerland for the confiscation of Russian private assets obtained legally or assets of the Central Bank of Russia," said an official from Bern.

He said that the volume of frozen private Russian financial assets in the country has increased by more than 1 billion francs over the year. If in 2025 this amount was 7.4 billion francs, then by 2026 it reached 8.5 billion francs.

As reported by EADaily, earlier the Russian Embassy said that Switzerland, by increasing the amount of frozen Russian, violates the norms of international law and crosses out its neutral status.