Swiss Senate rejects US$5.5 billion aid plan for Ukraine

Oleh Pavliuk, Tetyana Oliynyk — Monday, 3 June 2024, 21:16

The Swiss Council of States (the upper house of parliament) has expectedly rejected a proposal to provide 5 billion Swiss francs (about US$5.5 billion) in aid to Ukraine at a meeting on 3 June.

Source: European Pravda citing SRF

Details: The aid to Ukraine was part of a larger package worth 15 billion francs (about US$16.7 billion), which lawmakers proposed to spend on defence. However, it was opposed by most parties, especially the right-wing, due to violations of debt rules.

The package approved by the security committee of the Council of States provided for the additional financial needs of the Swiss army in the period 2025-2030 in the amount of 10.1 billion francs (about US$11.3 billion). Another 5 billion Swiss francs were proposed to be used to assist in the reconstruction of Ukraine.

Ultimately, the Council of States rejected the bill by a majority of 28 votes to 15. Instead, lawmakers decided to consider the proposal to increase funding for the army separately.

Since the beginning of the full-scale invasion of Ukraine, Switzerland's allies have been urging it to provide Ukraine with assistance, including military assistance, although right-wing political forces have been demanding strict neutrality.

Background:

Earlier, a group of activists supported by the far-right Swiss People's Party collected signatures for a referendum on the country's neutral status, which could undermine the country's sanctions against Russia.
Meanwhile, in April, Switzerland announced that it was planning to strengthen Ukraine's economic development and long-term reconstruction over the next twelve years and will allocate €5 billion for this purpose.

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