• 28/05/2024 01:03

How many frozen assets of the Russian Federation does Switzerland have: the amount is named

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As of the end of December 2023, Russian assets worth $6.4 billion were frozen in Switzerland.

This information was reported by the Swiss government department, URA-Inform reports.  

According to the Swiss government department responsible for enforcing sanctions, the value of the frozen financial assets of the Russian Federation decreased by $1.8 billion compared to December 2022.

This decrease in value is explained by the loss of value of some of the frozen assets of the aggressor state as a result of international sanctions. Securities are given as an example.

Over the past year, after their own investigations and explanations from banks, Switzerland blocked Russian assets worth $636 million. Two more real estate assets owned by Russia and located in Switzerland were also blocked.

In addition to the blocked real estate assets, the Swiss froze other assets belonging to sanctioned individuals and legal entities. As an example, the following assets are given: sports and luxury cars, works of art, furniture and musical instruments.

Also in Switzerland there are blocked assets of the central bank of the Russian Federation worth about $7.94 billion. From March 25, 2022, all operations related to the management of reserves and assets of the Central Bank of the Russian Federation are prohibited.

It should be noted that Russian assets worth $153.5 million were unblocked. Previously, they were blocked as a precautionary measure, and then the assets had to be unfrozen, because an investigation showed that the legal requirements for blocking them were not met.

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