Billions of dollars blocked: Switzerland reports on Putin's frozen assets

In 2023, the amount of Russian assets frozen by the Swiss authorities under sanctions increased by 580 million Swiss francs and reached 13 billion francs (about $14.3 billion). In addition, as a result of the investigations, two more real estate objects related to the Russian Federation were identified and blocked.

This was reported by the State Secretariat for Economic Affairs (SECO) of Switzerland. The agency clarified that 7.24 billion francs account for the reserves and assets of the Central Bank of the Russian Federation, which have remained blocked since March 25, 2022.

It is also noted that in 2023, the value of blocked assets decreased by 1.7 billion francs. This was due to the depreciation of securities related to companies that have been subject to international sanctions.

In addition, the number of frozen real estate properties increased to 17%. Other assets (sports and luxury cars, works of art, rare furniture, and musical instruments) of sanctioned individuals and legal entities also remain immobilized.

SECO claims that the value of the blocked assets and property of the Russian Federation will not increase as the authorities have already frozen most of them.

"I can hardly imagine any serious changes. The bulk of the frozen assets have actually been frozen for two years," Simon Plüss, head of the Sanctions Division of the State Department, said at a press conference on April 23.

The issue of sanctions has become a rather acute problem for the traditionally neutral Switzerland and has led to pressure on the local government. Some political parties opposed the weakening of neutrality, and the right-wing People's Party collected signatures for a referendum on the inclusion of a non-alignment clause in the country's Constitution. In this case, the government will not be able to participate in international sanctions regimes.

Earlier, it was reported that the Swiss parliament voted against the country's accession to the international working group on tracing the assets of Russian oligarchs despite the recommendation of the parliamentary commission to support this proposal. MPs decided that they already cooperate with this body enough and that further expansion of contacts would pose a threat to the country's independence.

Only verified information on our Telegram channel OBOZ.UA and Viber. Do not fall for fakes!