Switzerland, like the European Union (EU), will not generate income from frozen Russian assets and transfer them to Ukraine. This was announced on July 27 by the State Secretariat for Economic Affairs of Switzerland (SECO) in response to a request from the Keystone-SD agency.

“No money from Russian state assets is flowing from Switzerland to Ukraine. While the EU on Friday announced for the first time interest income from frozen Russian state assets for the defense and reconstruction of Ukraine, Switzerland, according to SECO, is in a different situation,” the Swiss newspaper Blick quotes the department’s response.

On July 26, the European Commission announced the allocation of the first tranche of €1.5 billion from income from the reinvestment of frozen Russian assets for weapons purchases for Ukraine. EC President Ursula von der Leyen clarified that the funds will be sent to Kyiv through the European Peace Fund and the Ukrainian fund for the purchase of weapons and the restoration of the country.