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Sherman A1

(38,958 posts)
Thu Apr 7, 2022, 06:36 PM Apr 2022

Switzerland has frozen CHF7.5bn in assets under Russia sanctions

Switzerland has so far frozen some CHF7.5 billion ($8 billion) in funds and assets under sanctions against Russians to punish Moscow’s invasion of Ukraine.

These are funds in frozen accounts and properties in four cantons, said Erwin Bollinger, head of the Bilateral Economic Relations Division at the State Secretariat for Economic Affairs (SECO) at a media conference in Bern on Thursday.

“Switzerland has thus frozen more funds than any other country. The Netherlands has blocked CHF500 million, other countries have not provided any information,” he said.

Bollinger said the government intended to continue to apply sanctions decided by the European Union. “The Embargo Act does not provide for autonomous sanctions. Moreover, sanctions are only effective if they are broadly based. Currently, 24 sanctions are in place.”

https://www.swissinfo.ch/eng/switzerland-has-frozen-chf7.5bn-in-assets-under-russia-sanctions/47499660?utm_campaign=teaser-in-channel&utm_medium=display&utm_content=o&utm_source=swissinfoch

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Switzerland has frozen CHF7.5bn in assets under Russia sanctions (Original Post) Sherman A1 Apr 2022 OP
The Netherlands froze at least 15 super-yachts owned by Russians FakeNoose Apr 2022 #1

FakeNoose

(32,823 posts)
1. The Netherlands froze at least 15 super-yachts owned by Russians
Thu Apr 7, 2022, 06:41 PM
Apr 2022

I don't think there are any super-yachts in Switzerland.

But I'll bet they know where a lot of Russian-owned mountain chalets and villas are hiding.

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