Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Guardian: Switzerland Opposes  Confiscation of Russia's Frozen Funds 

Wed 06 Jul 2022 | 11:47 AM
Ahmed Moamar

The British newspaper "The Guardian " revealed that Switzerland opposes a proposal submitted by Ukraine to seize Russia's frozen assets on the grounds that such a measure may set a dangerous legal precedent.

The Guardian added that Ukraine is seeking to confiscate nearly $500 billion in frozen Russian assets in order to finance the country's post-war reconstruction, but Switzerland opposes this proposal.

The British newspaper confirmed that Swiss President Ignazio Cassis, whose country hosted an international conference over the past two days to discuss the file of Ukraine's reconstruction, opposed this proposal, explaining that the protection of property rights is one of the most important pillars of democracy.

In a press conference after the concluding session of the conference, the Swiss president expressed the fears of many state leaders about implementing this proposal, as it would set a legal precedent and that such a measure needs legal justification so that it can be implemented.