Tuesday, February 7, 2023

The federal government has blocked CHF 7.5 billion

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Russian accounts in Switzerland

The federal government has blocked CHF 7.5 billion

According to the State Secretariat for Economic Affairs, the total of the blocked financial assets of Russian individuals in connection with the Ukraine war was CHF 7.5 billion at the end of November.

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As of November 25, 2022, the total of blocked financial assets in connection with the Ukraine war was CHF 7.5 billion. (icon picture)

In addition to these 7.5 billion francs in Swiss bank accounts, the federal government has also blocked 15 properties in six cantons. As of June 3, the State Secretariat for Economic Affairs (Seco) had reported existing deposits from Russian nationals and natural and legal persons in Russia in the amount of CHF 46.1 billion, Seco announced on Thursday.

It is forbidden to accept deposits from Russian nationals or natural and legal persons resident in Russia if the total value of the deposits per person exceeds CHF 100,000, it said. Existing deposits over 100,000 francs had to be reported to Seco by the beginning of June. (SDA)

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