7.5 billion of Russian assets have been frozen in Switzerland
World • 1670244511 9
Switzerland has frozen a total of 7.5 billion Swiss francs in Russian assets, in connection with the sanctions imposed over Russia's war in Ukraine.
The amount, which has been fluctuating for months, is nearly one billion francs more than the figure provided by the State Secretariat for Economic Affairs (SECO) in July.
Switzerland, a favoured destination for wealthy Russians, has also seen 15 Russian properties seized.Erwin Bollinger, in charge of bilateral economic relations at SECO, stressed to reporters that the amount frozen at any given time does not necessarily "reflect the efficacy of the sanctions".
That is because Swiss authorities seeking to implement the string of sanctions on Russia sometimes freeze assets as a precautionary measure, which may be released again once clarifications have been completed.
Traditionally-neutral Switzerland decided four days after Russia invaded Ukraine in February to align itself with the neighbouring European Union's sanctions against Moscow.
As with their EU counterparts, Swiss banks are banned from accepting deposits from Russian nationals or people or entities based in Russia of more than 100,000 francs, and have been ordered to declare all existing deposits over that amount.
In all, 46.1 billion francs in such deposits have been reported, but SECO stressed that this could "not be equated with the total amount of funds of Russian origin held in Switzerland."
October 2, 2012 will go down in history not as a day of victory for the Georgian Dream, but for the Georgian people and me personally, Mikheil Saakashvili, the third president of Georgia, writes on th...
Politics • 1696242939
President of Georgia Zurabishvili made another profound statement. According to her, if Ukraine does not resist, Georgia and the Baltic countries may be the next to be attacked by Russia, Grigory Kara...
Politics • 1696242893
We will, of course, need to get clarifications, why USAID funded such a training, the direct purpose of which was to prepare for a revolution in Georgia - we will not allow either a revolution or a se...
Politics • 1696242836
Russian Foreign Minister Sergey Lavrov will hold talks with the so-called leaders of occupied Abkhazia and Tskhinvali in Sochi today. According to the Russian Ministry of Foreign Affairs, "bilateral a...
Politics • 1696242778
Salome Zurabishvili does not make decisions without Ivanishvili - the decision on Partskhaladze is a clear proof of this, chairman of the National Movement Levan Khabeishvili told reporters. According...
Politics • 1695733236
When the president says that the National Bank makes Russian decisions, when she arrives there and her colleagues ask if it is really a Russian decision, what will she answer? - that yes, it is Russia...
Politics • 1695733189