More Russian assets frozen in Switzerland

Simon Plüss, Head of Export Controls and Sanctions at SECO. Keystone-SDA

The value of frozen Russian assets in Switzerland currently stands at CHF7.4 billion ($8.4 billion), the Swiss government announced on Tuesday. This represents an increase of CHF1.6 billion in one year. Additional assets have been identified, according to the State Secretariat for Economic Affairs (SECO).

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In addition to these CHF7.4 billion, 14 real estate assets of individuals, companies or entities targeted by the European Union’s sanctions against Russia have been taken over by Switzerland.

The year-on-year increase is due to the fact that additional assets were identified and subsequently frozen, SECO said in a press release.

+ Switzerland adopts further EU sanctions against Russia

As announced in August 2024, following a preliminary investigation by SECO, the Office of the Attorney General of Switzerland opened criminal proceedings on suspicion of violating the sanctions. In this context, SECO has frozen assets worth a total of CHF1.65 billion as a super-provisional measure.

Translated from German by DeepL/ts

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