At the conference, Kyiv suggested using the confiscated assets to restore Ukraine. The President of Switzerland recalled the right to property and indicated that later a similar mechanism could be used for other purposes
Ignazio Cassis actions require legal grounds, Swiss President Ignazio Cassis said at a conference in Lugano.
A conference on the restoration of Ukraine is being held in the Swiss city of Lugano on July 4 & 5.
«The right to property— fundamental right, human right,— said the head of state.— It is necessary to ensure the protection of citizens before the state power. It's called liberal democracy.
Cassis noted that in some cases fundamental rights can be violated— as, for example, the authorities of many countries did during the coronavirus pandemic. “But you need a legal basis,” — emphasized the President of Switzerland. Now, according to him, in Europe, you can only freeze assets in order to find out “where they came from”; and linked to a Russian sting operation in Ukraine.
The decision to use Russian assets in favor of Kyiv “was ideal for the situation in Ukraine,” but it sets a precedent for “many other situations,” Cassis said.
Kyiv in Lugano presented a plan for restoration worth $750 billion. Prime Minister of Ukraine Denys Shmygal, who spoke together with Kassis, said that Russian property worth $300-500 billion has been frozen in the world due to sanctions. These assets, in his opinion, should be used in the restoration of Ukraine, since Russia launched a special operation and “should be held responsible for this.”
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In late June, the Canadian Senate approved a measure that allows the confiscation and sale of Russian assets, which can then be used to “restore a foreign state that has suffered as a result of a gross violation of international peace and security,” to “restore international peace and security.” and payment of compensation to the victims.
British Foreign Secretary Liz Truss generally supported this idea and admitted that London would follow the example of Ottawa. The US Department of Justice expressed the hope that Congress would take steps that would allow the transfer of assets seized from Russian entrepreneurs to Ukraine.
Kremlin spokesman Dmitry Peskov stated that the use of Russian assets in favor of Ukraine would be “in fact, outright theft.” “Such a decision would be illegal, egregious,” — he said and added that such actions would require a response from Moscow.
Violation of international norms and “theft of other people's assets”; will only lead to problems for those who do it, President Vladimir Putin warned. “Violation of the rules, norms in the field of international finance, trade does not lead to anything good. And to put it in simple terms, it will only lead to problems for those who do it. Theft of other people's assets has never brought anyone to good, especially those who are engaged in this unseemly business, — he said at the end of May.
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