7.5 billion of Russian assets have been frozen in Switzerland

World 1670244511    3

ნეიტრალურმა შვეიცარიამ რუსეთის მიმართ დაწესებული სანქციები გააფართოვა

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."

Terms of use of the material
Other news
მელია
After the elections, the party will either survive or go into gradual decline - Nika Melia

Chairman of the "National Movement" Nika Melia makes a statement about the upcoming elections to the party and notes that about 50,000 voters have registered to participate in the elections. According...

Politics 1674808331

ვიქტორ იუშენკო
Viktor Yushchenko: I am saddened for the Georgian nation and Misha - I understand that this is an episode, we will get over it and there will be the kind of Georgia we dream of

I am saddened for the Georgian nation and for Misha [Mikhail Saakashvili], the former President of Ukraine Viktor Yushchenko said in an interview with Ukrainian journalist Dmitry Gordon. According to...

Politics 1674808232

დაბომბილი შენობა უკრაინაში
Ukrainian troops left Soledar

The command of the Ukrainian troops officially announced that the troops left the city of Soledar, Donetsk region. This was announced by the representative of the eastern group of the Armed Forces of...

World 1674735079

ლუკაშენკო
Lukashenko: Ukraine offered Belarus to conclude a non-aggression pact

Ukraine offered Belarus to conclude a non-aggression pact. This was stated by Belarusian President Alexander Lukashenko, BelTV reports. Ukraine offered Belarus to conclude a non-aggression pact. This...

Politics 1674734878

ნინო ნადირაძე
She looks like a Gestapo doctor - Tako Charkviani on Nadiradze

The leader of the Law and Justice party, Tako Charkviani, commented on the statement by the director of the Vivamedi clinic, Nino Nadiradze, that, despite repeated requests, Saakashvili's family membe...

Politics 1674734711

აეროპორტი
Georgia Received USD 3.5 Billion from International Tourist Visits in 2022

In 2022, 5,426,903 international travelers visited the country, which was 188.5% more than in 2021 - while the number of international tourists visits reached 3,652,949 (+131.6% y-o-y), - according to...

Society 1674636393