Switzerland has announced that it is legally impossible to confiscate the assets of sanctioned Russians held in the country, the Financial Times reports, BNR writes.

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So far, Bern has kept pace with the EU in freezing the assets of high-ranking Russians linked to President Vladimir Putin's regime.

Switzerland holds more than 7.5 billion Swiss francs (about $8.1 billion) in Russian assets almost a year after Moscow invaded Ukraine.

But as calls grow in Europe to seize Russian wealth held abroad to help fund Ukraine's defense and reconstruction, Switzerland has made it clear that any sustained action against assets held within its borders, will cross the red line.

"The expropriation of private assets of legal origin without compensation is not permissible under Swiss law. The confiscation of frozen private assets is contrary to the constitution and violates Switzerland's international commitments," the government said in a statement on Thursday.

Russian invasion of Ukraine