The Swiss Federal Department of Economic Affairs has frozen approximately $8.3 billion in assets owned by the Russian Central Bank, according to a new report.
The Swiss national flag flies above the Federal Palace, Switzerland's parliament building in Bern, Switzerland.funds and assets in Switzerland ; the latter are those owned or controlled by sanctioned persons, companies or entities and are subject to the freezing of assets as set out in Article 15 of the Ordinance on Measures Relating to the Situation in Ukraine," the ministry wrote.
The Swiss government also alluded to considerations of investing seized Russian Central Bank finances to create an Ukraine reconstruction fund.CLICK HERE TO GET THE FOX NEWS APP "In the EU there are ongoing discussions on whether assets of the Russian Central Bank should be invested and the proceeds used for the reconstruction of Ukraine," the Ministry of Economic Affairs wrote. "Switzerland is following these discussions closely."
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