Switzerland may hold referendum on transfer of Russian assets to Ukraine

Switzerland doesn’t mind transferring frozen Russian assets to rebuild Ukraine, but this may require a referendum, Swiss Foreign Minister Ignazio Cassis said in an interview with Tages-Anzeiger, Report informs referring to RBC-Ukraine.

“If we are serious about helping to restore Ukraine, we should think about how we are going to finance it,” the minister said, adding that Western countries are discussing the step of confiscating Russian assets.

Cassis clarified that Switzerland had frozen 7.5 billion francs ($8.2 billion) worth of Russian assets, but according to the country’s legislation, they cannot be confiscated. He added that changing this law will probably require a referendum.

“We can’t just take money that doesn’t belong to us just because we think it’s morally right. Ownership is fundamental,” said the Swiss foreign minister.