Swiss president warned the international community for negative consequences if transferring Russia's freezing assets to Ukraine.

Ownership and property rights are basic rights, human rights, President Ignazio Cassis spoke at the Ukrainian reconstruction conference held in Lugano, Switzerland, on July 5.

The Swiss president emphasized that the West can only interfere with these rights when there is an appropriate legal basis, as in the fight against Covid-19 epidemic.

Swiss President Ignazio Cassis spoke at the Ukrainian reconstruction conference in Lugano, Switzerland, on July 5.

Western countries imposed a series of unprecedented sanctions on Russia after Moscow launched a special military campaign in Ukraine on February 24.

The United States decided not to repay Russia's confiscated assets, while the US House of Representatives approved the decision to sell some of this property to aid to Ukraine.

Washington also plans to use the freezing property of the Russian Central Bank to support the Kiev government's financial and military support.

According to the Kremlin spokesman Dmitry Peskov, the confiscation of Russian assets bent all legal standards, no different from appropriating personal property.

The Court banned the operation and confiscation of the largest Russian political party in Ukraine with allegations of destroying the country's sovereignty.

The European Commission Chairman Von Der Leyen said the EU is seeking to use the confiscated property from Russian billionaires to rebuild Ukraine.