Switzerland unblocks Russia-related assets worth 290 mln Swiss francs

The Swiss authorities unblocked assets associated with Russiato the tune of 290 mln Swiss francs (about $318 million) in 2023 due to the lifting of EU sanctions on a number of individuals, as well as after clarifying the origin of some funds, the Swiss State Secretariat for Economic Affairs said in a statement.

“Assets worth 140 million Swiss francs (about 153 mln – TASS) which had previously been blocked as a precautionary measure were released after further investigations found the legal requirements for their freezing were not met,” the statement says.

The total amount of blocked assets of the Russian Federation decreased by 150 million Swiss francs (about $165 million) due to the fact that a number of individuals “were removed from the EU sanctions lists” that the confederation is targeting.

Moreover, only by expanding the community’s blacklist, in 2023 Switzerland additionally blocked funds allegedly associated with Russia for 50 million francs (about $55 million).


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