Switzerland planning to allocate $1.7B for Ukraine by 2028

The Swiss government intends to provide Ukraine with at least CHF 1.5 billion ($1.7 billion) more by 2028.

Swiss Foreign Minister Ignazio Cassis stressed Switzerland’s commitment to long-term support for Ukraine, Ukrinform reports, referring to Swiss Info.

The government said it intends to provide at least another CHF1.5 billion ($1.7 billion) by 2028.

The support is to be provided as part of the international cooperation strategy for 2025 to 2028, the foreign ministry said on Wednesday.

Read also: United States announces new sanctions against Russia

Together with the CHF300 million earmarked for 2023 and 2024, Switzerland would support Ukraine with at least CHF1.8 billion (over $2 billion) over the next six years.

As reported, Switzerland joined the EU sanctions against Russia, introduced in March 2022, which include a ban on the export of a range of goods. In addition to frozen assets and travel restrictions, sanctions also ban exports of goods such as weapons, coal and luxury goods.