Value of Russian assets frozen in Switzerland drops
The value of Russian assets frozen in Switzerland has fallen by CHF1.7 billion ($1.9 billion) to CHF5.8 billion due to valuation losses on marketable securities.
At the end of 2023, the value of frozen assets linked to sanctions against Russia totalled CHF5.8 billion, the State Secretariat for Economic Affairs (SECO) announced at a media briefing on Tuesday. This was a decrease of CHF1.7 billion compared to figures communicated in December 2022.
+ The impact of Russia sanctions on Swiss banks
According to SECO, assets totalling CHF140 million were released as a precautionary measure. Clarifications revealed that the legal requirements for freezing these assets were not met. However, 17 other properties in seven cantons have now been frozen.
In response to Russia’s military aggression in Ukraine, the Swiss government decided in February 2022 to adopt European Union (EU) sanctions.
Adapted from German by DeepL/kp/sb
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
More
Why Switzerland is among the ten fastest-warming countries in the world
More
In Switzerland four out of ten people have a migrant background – who are they?
More
Suicides in Switzerland quadruple among older people
More
French gangs target luxury cars in Switzerland
More
Renewed controversy in Switzerland over US fighter jets – explained
In compliance with the JTI standards
More: SWI swissinfo.ch certified by the Journalism Trust Initiative
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.