LAST UPDATE 13:03
The Swiss government has so far received reports of Russian assets worth 5.75 billion francs ($ 6.17 billion) affected by sanctions, and that number is expected to rise significantly.
The above was stated by a government official, who added that the amount includes a number of properties in resorts.
The Swiss central bank, meanwhile, has sold most of its assets linked to Russia, and sees only limited risk to the Swiss financial sector from the war in Ukraine.
“We had a very small amount of assets related to Russia. In the meantime, we could sell most of these assets so that our exposure to Russian assets is close to zero,” said Thomas Jordan, its director. central bank, following the decision to keep interest rates unchanged.
He added that he did not believe that the Russian invasion of Ukraine was a problem for the stability of the Swiss financial sector.
“Exposure to the Swiss financial sector in Russia is rather limited, so the war itself has a limited effect on banks or financial institutions in Switzerland,” Jordan said.
If the war completely changes the world economy, there could be negative consequences for Switzerland, but so far the impact has been “very small, very limited”.
Jordan stressed that the country’s central bank has no business relationship with the Russian central bank and does not maintain reserves in rubles.
Source: Capital
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