Switzerland unblocked more than $300 million of frozen Russian assets over the past year
The reason was mainly the removal of certain individuals from the sanctions list
In 2023, Switzerland lifted restrictions on previously blocked Russian assets worth CHF 290 million (about $318 million).
Source. This is stated in a press release from the Swiss State Secretariat of Economic Affairs, cited by The Insider.
According to the agency, assets worth CHF 140 million were unblocked because the investigation found no grounds for further blocking.
In addition, the lifting of restrictions on assets worth another CHF 150 million is due to the removal of people and companies from the EU sanctions list.
In addition, in 2023, the State Secretariat for Economic Affairs froze CHF 580 million worth of financial assets and two real estate properties linked to Russia following its own investigations.
In addition, "sports and luxury cars, works of art, furniture and musical instruments belonging to individuals and legal entities under sanctions in Switzerland" were subject to restrictions.
In total, from 28 February 2022 to 31 December 2023, Switzerland blocked CHF 5.8 billion worth of financial assets belonging to Russian individuals and companies and 17 properties in 7 cantons of the country.
The press release notes that this amount does not include the CHF 7.24 billion of assets of the Central Bank of Russia frozen since 25 March 2022.
Background. Earlier, the NBU reported that Ukraine could receive a loan secured by frozen Russian assets.
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