Economy 2023-11-15T04:47:37+02:00
Ukrainian news
Switzerland Freezes Russian Assets For EUR 7.2 Billion

Switzerland Freezes Russian Assets For EUR 7.2 Billion

Switzerland, Russian assets, frozen Russian assets

Switzerland has updated information about Russian assets frozen due to sanctions against the Russian Federation.

The State Secretariat for Economic Affairs (SECO) has announced this, European Pravda reports.

The total amount of assets frozen in Switzerland due to Russian aggression against Ukraine as of November 25 reached CHF 7.5 billion (EUR 7.2 billion). In July, it was CHF 6.7 billion (EUR 6.5 billion).

In addition, 15 properties owned by sanctioned individuals, companies and organizations were arrested in six cantons.

The sanctions, adopted by the Swiss Federal Council in February last year, also prohibit accepting deposits from Russian citizens or individuals and legal entities created in Russia if their total value exceeds CHF 100,000 per person.

In return, existing deposits exceeding this amount must be reported to SECO.

As Ukrainian News Agency earlier reported, the EU and partners will develop a plan to confiscate frozen Russian assets in favor of Ukraine.

In addition, Canada has already frozen USD 330 million in Russian assets.

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