Value of Russian assets frozen in Switzerland drops
Russia's embassy building in Bern, Switzerland.
Keystone / Peter Schneider
The value of Russian assets frozen in Switzerland has fallen by CHF1.7 billion ($1.9 billion) to CHF5.8 billion due to valuation losses on marketable securities.
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В Швейцарии сократилась стоимость замороженных активов России
At the end of 2023, the value of frozen assets linked to sanctions against Russia totalled CHF5.8 billion, the State Secretariat for Economic Affairs (SECO) announced at a media briefing on Tuesday. This was a decrease of CHF1.7 billion compared to figures communicated in December 2022.
According to SECO, assets totalling CHF140 million were released as a precautionary measure. Clarifications revealed that the legal requirements for freezing these assets were not met. However, 17 other properties in seven cantons have now been frozen.
In response to Russia’s military aggression in Ukraine, the Swiss government decided in February 2022 to adopt European Union (EU) sanctions.
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