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Syrian assets blocked worth SFr27 million

Switzerland has blocked Syrian assets worth SFr27 million ($32 million), according to a newspaper report confirmed by the State Secretariat for Economic Affairs (Seco).

Seco declined to comment on whether the assets of President Bashar al-Assad had been frozen.

In May, Switzerland said it would impose travel bans on 13 Syrian officials and freeze any of their assets held in Swiss banks in response to their government’s violent crackdown against pro-reform protesters. 

Switzerland has in recent years seized the assets of numerous deposed leaders and agreed in 2009 to soften strict bank secrecy to help other countries catch tax cheats.

Switzerland has blocked assets of former Tunisian and Egyptian leaders and their entourages as well as those of Libyan leader Moammar Gaddafi and close associates.

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