Switzerland rebuffs Kiev’s plan for Russian assets — Analysis
A blanket seizure of Russian assets would be a dangerous precedent, according to the Swiss president
Switzerland said the proposal by Ukraine to take billions in Russian assets from Russia was a dangerous precedent.
“You have to ensure the citizens are protected against the power of the state. This is what we call liberal democracies,”While attending an international conference to boost aid for Ukraine, President Ignazio Cass spoke to reporters in Lugano Tuesday.
Ukrainian Prime Minister Denis Shmygal earlier argued that Western governments should confiscate $300-$500 billion of frozen Russian assets and direct them toward Ukraine’s recovery from the conflict. Moscow imposed many sanctions on Moscow following its February invasion of Ukraine.
“We believe that the key source of recovery should be the confiscated assets of Russia and Russian oligarchs,”According to the Ukrainian PM,
Cassis, however, stressed that the “right of property is a fundamental right,” and that “seriousness”discussed the West’s Russian-owned funds.
The fundamental rights of individuals must be given the highest attention. We can now take a decision that is right for Ukraine. However, we also have the option to make the same decision in other options. This gives the state more power and takes away the citizens.
Swiss law guarantees property rights. Monika Roth, a law professor at the Lucerne University of Applied Sciences and Arts, told Swiss broadcaster SRF that the country does not have the necessary laws to enact a blanket confiscation of Russian funds and that Ukraine’s proposal would be difficult to implement.
“It would have to be proven that [each owner]allowing the assets and funds to be used for support [Russian President Vladimir] Putin’s war,”She said.
However, Liz Truss (British Foreign Secretary) last week supported in principle the confiscation Russian assets. “I certainly agree with the concept. We just need to get the specifics of it right.”
The Kremlin stated previously that Russian assets should be confiscated from abroad. They compared this to “direct theft.”
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