Credit Suisse freezes $5 billion of Russian money due to U.S. sanctions

[fleur-de-lisa]

https://www.reuters.com/article/us-credit-suisse-gp-sanctions/credit-suisse-freezes-5-billion-of-russian-money-due-to-u-s-sanctions-idUSKCN1L71LR?utm_campaign=trueAnthem:+Trending+Content&utm_content=5b7d889f04d301285a17673f&utm_medium=trueAnthem&utm_source=twitter

ZURICH (Reuters) - One of Switzerland’s largest banks, Credit Suisse, has frozen roughly 5 billion Swiss francs ($5 billion) of money linked to Russia to avoid falling foul of U.S. sanctions, according to its accounts, further increasing pressure on Moscow.

The move by Credit Suisse, which owned aircraft surrendered by Russian tycoon Oleg Deripaska and had lent money to Russian oligarch Viktor Vekselberg before the sanctions, underscores a widespread fear among banks of reprisals from Washington for working with targeted Russian individuals and entities.

For Russia’s elite, such steps could close off an important avenue for finance as well as a safe haven for billions of rubles of their wealth.

Long popular with wealthy Russians for its combination of bank secrecy, political stability and glitzy ski resorts such as Zermatt and St. Moritz, Switzerland has become one of the most important destinations for money leaving Russia.

[Wwcd]

1. GoFundMe needs to be on high alert for RU Oligarch accts..

[MaryMagdaline]

2. Now we're talking!

[Hortensis]

3. "almost three times as much as went to the United States"

Roughly $6.2 billion, or 14 percent of total Russian cross-border outflows, went to Switzerland in 2017 — almost three times as much as went to the United States, according to Russian central bank data.

More could follow.

Considering that Russia has been conducting occult warfare to destabilize the governments of all the NATO nations, hopefully this is just another moment before the avalanche.

Interesting thought of what it could mean for Russia if these predators had to invest a lot more of the money they stole from the people right there in Russia. This backwards country might even develop a real manufacturing base that produced more than just armaments. But I'm inclined to guess Putin would be in prison, his own massive fortune divided among his fellow kleptocrats, before it came to that.

[2naSalit]

4. The squeeze is on!

[dalton99a]

5. That's why Putin hates sanctions.

[Farmer-Rick]

6. Imagine being an average Russian knowing billions of their national wealth

Is being stashed away by mobsters. The average Russian has seen a decrease in their wages this month, all the while mobsters like Putin are laundering billions throughout the world. Most Russians can't afford a house (15% interest rate) and live in small apartments, all the while Putin lives in over 20 palaces and just one of his bathrooms has a £47,000 toilet.

Putin sent 100s of millions of stolen Russian wealth to Traitor Trump when the average Russian is lucky to make $700 a month. I'm surprised the Russian people put up with it.

[Leghorn21]

7. Fantastic news!! Freeze these motherfuckers OUT!!!

Bill Browder and Sergei Magnitsky




(Viktor Vekselberg slipped Cohen $500,000 via his LLC in Jan. ‘17, btw...)

—-Thanks for posting, lisa!!

[LunaSea]

8. "How can we strike back in response to Russian attacks on the USA?"

was a question put to Malcolm Nance in a q&a following his latest presentation.
He replied "Take the oligarchs money away. We have the capacity to do this".

I hope the right people are listening.