Swiss banks hold between CHF150 billion and CHF200 billion ($160-$214 billion) in assets belonging to Russian clients, according to the Swiss Bankers Association.
This content was published on
1 minute
swissinfo.ch/ug
Español
es
Clientes rusos tienen hasta 200 000 millones de francos en bancos suizos
The president of the associationExternal link, Marcel Rohner, made the estimate at the group’s annual news conference on Tuesday. Overall in 2020, Swiss banks had assets under management totaling CHF7,879 billion.
However, Rohner declined to quantify the amount of funds blocked as a result of the economic sanctions imposed by Switzerland against Russia.
He added that the exact amount might become clear later, as the banks will have to report the assets to the economics ministry by next June, according to the Keystone-SDA news agency.
Blacklisted Russian clients cannot withdraw any money from their Swiss accounts, nor can they deposit funds exceeding CHF100,000.
The Swiss government followed a first set of sanctions imposed by the European Union at the end of February, prompting debate about Switzerland’s neutral status.
The government said it would consider taking further punitive measures in the wake of additional EU sanctions announced over the past weeks.
More
More
Russian oligarch Vekselberg hit with US sanctions
This content was published on
US targets yacht and private jet belonging to Russian billionaire Viktor Vekselberg, who is resident in Switzerland.
As a Swiss Abroad, how do you feel about the emergence of more conservative family policies in some US states?
In recent years several US states have adopted more conservative policies on family issues, abortion and education. As a Swiss citizen living there, how do you view this development?
Swiss nomadic people were victims of crimes against humanity, says government
This content was published on
The persecution of Sinti and Yenish in Switzerland in the 20th century is a crime against humanity according to current international law.
Swiss court finds ex-Gunvor executive guilty of corruption
This content was published on
The Swiss Federal Criminal Court sentenced a former executive at Gunvor oil trading group to a 24-month suspended prison sentence.
Young adults feel increasingly helpless, finds Swiss generation survey
This content was published on
Young adults in Switzerland believe they have less influence on the future development of society according to the latest Generation Barometer.
Swiss 2024 wine harvest was poor due to weather conditions
This content was published on
The 2024 wine harvest was the second worst in the last 50 years due to unfavorable weather conditions such as frost and hail.
Swiss Red Cross fails to recognise foreign osteopathy diplomas
This content was published on
The Swiss Red Cross did not adhere to the guidelines set by the court when examining foreign qualifications of an osteopathy training.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
The Russian oligarchs’ billions frozen in Swiss banks
This content was published on
Banks and Russian oligarchs grapple with consequences of sanctions that have frozen billions of francs in Swiss bank vaults.
UBS reveals $10 million of loans to sanction-hit clients
This content was published on
UBS has $10 million of loans outstanding to clients hit by western sanctions imposed in response to Russia’s invasion of Ukraine.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.