Switzerland has seized Russian assets worth 8.81 billion (881 crore) dollars. The Swiss government reported this information on Friday. This action was taken under the sanctions imposed on Moscow after the attack on Ukraine. The British news agency Reuters reported this news.
The State Secretariat for Economic Affairs (SECO), which is tasked with implementing the ban, said this value of assets is an estimate and is subject to change.
The neutral country decided to implement the sanctions imposed by the European Union last year. A large amount of Russian assets were frozen at that time. However, the amount seized is higher than before.
It has become difficult to know the exact figure. Because new people are being added or removed from the ban list regularly. Besides, there are various cases to seize or release. Definite figures may be known in the second half of 2024. At that time, the Swiss banks will submit a report to the government.
According to the report, 300 individuals and 100 companies and organizations were added to the sanctions list in the last 12 months, increasing the value of assets. These assets include cash deposits, bonds, shares, land and luxury cars.
The SEC declined to comment on which individuals had their assets seized.
According to the Swiss Bankers Association, the seized assets represent only a fraction of the wealth of Russian citizens in Switzerland.
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