By 2023, the value of financial assets frozen due to sanctions against Russia amounted to 5.8 billion Swiss francs (6.4 billion dollars). Additionally, 17 real estate objects were also blocked.
This information was reported by RBC-Ukraine, citing the Swiss department responsible for sanctions compliance (SECO).
The latest data shows that the value of frozen financial assets decreased by 1.7 billion Swiss francs compared to December 2022. This decrease is explained by the loss of value of some assets, including securities related to Russia, due to international sanctions.
Over the past year, SECO has frozen an additional 580 million Swiss francs of financial assets following its own investigations and detailed explanations from banks. Two more real estate objects were also blocked. In addition to the 17 blocked real estate objects, various assets such as sports and luxury cars, works of art, furniture, and musical instruments owned by individuals and entities under sanctions in Switzerland were also blocked.
However, assets worth 140 million Swiss francs, which were previously blocked as a precautionary measure, were unblocked after additional investigations showed that the legal requirements for their freezing had not been met.
Furthermore, Switzerland holds assets of the Central Bank of the Russian Federation worth about 7.24 billion Swiss francs. Since March 25, 2022, these assets have been immobilized, meaning that all operations related to their management are prohibited.
In response to Russia’s military aggression against Ukraine, Switzerland adopted EU sanctions against Russia, further strengthening their impact. In March, the Attorney General of Switzerland began the first criminal proceedings.
