"In the context of international proposals to use frozen Russian assets to rebuild Ukraine, the Federal Council sought official clarification on the legal basis for any such action. A working group led by the Federal Office of Justice (FOJ) concluded that the confiscation of private Russian assets would undermine the Federal Constitution and the prevailing legal order. The Federal Council noted the working group’s conclusions at its meeting on 15 February. Support for Ukraine will continue, independent of the discussions on frozen assets," the government said in a statement.
Earlier in the day, the Swedish Presidency of the Council of the EU said that EU permanent representatives had approved the creation of a special working grope on the use of Russia's frozen assets in the interests of Ukraine
EU permanent representatives have approved the creation of a special working group on the use of Russia's frozen assets in the interests of Ukraine, Swedish Presidency of the Council of the EU said.
"EU ambassadors today approved the establishment of an ad hoc working party on the use of frozen and immobilised Russian assets to support Ukraine´s reconstruction," the Swedish presidency wrote on Twitter.
On the same day, European Commission President Ursula von der Leyen said that she would propose tracking all assets of the Russian Central Bank frozen in Europe.
"We will track oligarchs trying to hide or to sell their assets to escape sanctions and together with member states we will set an overview of all frozen assets of the Russian Central Bank held up in the EU, we need to know where these are located and how much they worth," von der Leyen told reporters before proposing the 10th sanction package against Russia.
In November, European Commission President Ursula von der Leyen proposed the creation of a special structure to manage the frozen assets of the Russian Central Bank and private assets to support Ukraine. However, a source in the Council of the European Union said in late January that the possible use of Russia's frozen assets in the EU was accompanied by complex legal issues.
Moscow has repeatedly stated that the EU's attempts to confiscate frozen Russian assets is an expropriation of property in violation of international law. Kremlin spokesman Dmitry Peskov has stated that Russia will do everything possible to return the seized assets, given the illegality of their seizure.
Moscow has repeatedly stated that the EU's attempts to confiscate frozen Russian assets is an expropriation of property in violation of international law. Kremlin spokesman Dmitry Peskov has stated that Russia will do everything possible to return the seized assets, given the illegality of their seizure.