ZURICH, May 10 (Reuters) - Switzerland holds 7.4 billion
Swiss francs ($8.32 billion) of reserves and assets belonging to
the Russian central bank, it said in a statement published on
Wednesday as a result of new reporting obligations linked to
sanctions against Russia.
The Swiss government said the bank's assets have been
immobilised since March 25, 2022, when all transactions related
to Russia's central bank were prohibited following Russia's
invasion of Ukraine.
The new reporting obligation means assets linked to the
central bank will be reported on a quarterly basis.
The 7.4 billion francs belonging to the Russian central bank
is separate to the 7.5 billion francs of funds and assets
Switzerland has frozen because of ties to sanctioned persons,
companies or entities.
Russia has said that in total around $300 billion of its
international reserves were been frozen as a result of Western
sanctions.
Switzerland said it is following ongoing discussions in the
European Union on whether Russian central bank assets should be
invested and the proceeds used for the reconstruction of
Ukraine.
($1 = 0.8889 Swiss francs)
(Reporting by Noele Illien
Editing by Tomasz Janowski)
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