Swiss high court upholds asset freezes for Russian metals oligarch

Switzerland's top court rejected the appeal of the Russian oligarch. Keystone / Jean-Christophe Bott

The Federal Supreme Court has rejected the appeal of a Russian oligarch to be removed from the sanctions list in connection with the war in Ukraine. In a judgement published on Wednesday, the judges in Lausanne rejected his request to lift the freeze on his assets.

The appellant had been placed on the sanctions list in mid-March 2022 under the Ukraine Ordinance issued by the Swiss government. At the end of June of the same year, his lawyer applied for his client to be removed from this list. He argued that the facts cited were irrelevant and that the sanctions imposed contravened Swiss law.

The Federal Administrative Court had already rejected this argument in 2025. It concluded that the individual in question was, in all likelihood, an influential businessman in the metals sector – an industry that generates substantial revenue for the Russian state. The freezing of his assets could therefore increase pressure on President Vladimir Putin’s regime.

The Federal Supreme Court upheld this assessment. It held that the government may impose coercive measures to implement sanctions designed to enforce international law, including human rights. Against this background, following Russia’s military intervention in Ukraine, Switzerland decided to adopt the sanctions imposed by the European Union against Vladimir Putin’s regime.

The Ordinance on Measures in Connection with the Situation in Ukraine provides for the freezing of assets and economic resources belonging to, or controlled by, persons or organisations on the sanctions list. One of the criteria for inclusion on this list is that a person or entity is considered a significant source of revenue for the Russian government.

The Federal Supreme Court also emphasised that, given the distinctly political nature of the sanctions, it was not required to rule on their fundamental legitimacy. Accordingly, it also rejected the appellant’s objection that Switzerland should not have imposed such sanctions in the first place.

Translated from German, sub-edited by jdp