The Russian Foreign Ministry stated that there were no grounds for confiscation of assets in Switzerland.

There are no legal grounds in Swiss law allowing the confiscation of funds from the Bank of Russia (CBR). This was announced to Izvestia on Thursday, May 1, by the Russian Foreign Ministry.

"Switzerland has joined all 16 EU anti-Russian sanctions packages, blocked the assets of Russian individuals and legal entities, as well as the holdings of the Bank of Russia. As of March 31, 2025, the amount of funds blocked by the Confederation of the Central Bank of the Russian Federation really amounts to 7.45 billion Swiss francs," the Foreign Ministry stressed.

The Russian side has repeatedly carried out demarches in connection with Bern's steps that contradict the principle of neutrality, the diplomats noted.

"There are no legal grounds in Swiss law allowing for the confiscation of funds from the Bank of Russia. They are placed in commercial banks, and the central Swiss depository does not service them, which means it does not have the technical ability to manage the corresponding income from deposits.
Let's see how committed the Swiss government will be to implementing its national legislation," the Russian Foreign Ministry added.

Block signal: EU's position on Russian assets hinders settlement in Ukraine

What could prompt the Europeans to lift sanctions and unfreeze Russian funds?

Earlier, on April 23, Japanese Ambassador to Russia Akira Muto protested Tokyo's desire to use Russia's frozen assets. The Russian Foreign Ministry noted that such actions by the Japanese government would be regarded as complicity in the crimes of the Kiev regime and would entail harsh retaliatory measures.