Switzerland has frozen 8.8 billion dollars of russian assets this year
Kyiv • UNN
Switzerland has frozen approximately 7.7 billion Swiss francs ($8.81 billion) of financial assets belonging to Russia, a slight increase from last year's 7.5 billion. The exact amount will be confirmed after Swiss banks report to the government by the end of the second quarter of 2024.
Switzerland has frozen approximately 7.7 billion Swiss francs ($8.81 billion) of financial assets owned by russians. This is reported by Reuters, UNN reports.
Details
According to preliminary estimates, this figure is up slightly from the 7.5 billion francs that the Swiss government blocked last year.
SEE ALSO: G7 countries block 280 billion dollars of Russian assets
At the same time the State Secretariat for Economic Affairs (SECO) said that the exact figure will be known at the end of the second quarter of 2024, when Swiss banks report to the government.
It is difficult to estimate the amount now due to a number of people who have been added or removed from the sanctions list, as well as court cases to freeze or unblock additional assets. In total, 300 individuals and 100 companies and organizations associated with the Russian Federation have been added to the list over the past year.
Addendum
The frozen funds include profits from cash deposits, bonds, stocks, real estate, and luxury cars. In addition, Bern blocked the movement of 7.4 billion francs worth of foreign currency assets belonging to the russian central bank.
It is also noted that frozen assets constitute only a part of the total wealth held by Russians in Switzerland. In particular, according to the Swiss Bankers' Association , 150 billion francs of Russians are kept in the country's banks.
As a reminder,
Secretary of State Anthony Blinken announced that out of the new aid package to Ukraine worth more than one billion dollars, $5.4 million will come from the confiscated assets of Russian oligarchs.
SEE ALSO: EU proposes to confiscate Russian assets in favor of Ukraine