7.5 billion Swiss francs (about 7.6 billion euros) is the amount of the russian assets frozen in Switzerland by the sanctions imposed against Moscow for the war in Ukraine.
In addition, a part of another 46.1 billion Swiss francs, declared by Russian citizens who are not among those sanctioned, has been immobilized, as explained by one of the officials of the Swiss State Secretariat for the Economy.
“We have to differentiate between the 7.5 billion francs (Swiss) that we have mentioned as frozen funds, which are active funds and from people who have been sanctioned, included in the sanctions lists of the European Union and that we have assumed. The 46,100 million are assets of people not penalized. They are Russian people who have their capital in Switzerland, so they would see that difference in the European Union if the figures published by the European Union were correct.”commented the head of the Bilateral Economic Relations Division of the Secretary of State for the Economy, Erwin Bollinger.
However, this amount does not accurately reflect the totality of Russian-owned funds deposited in Swiss entities that are between 150 and 200 billion Swiss francs (between 152 and 202 billion euros), according to a calculation precedent of the Swiss Bankers Association.
“I can only guess what is behind it. On the one hand, the values are not included in the 46.1 billion, not even in the European Union. And on the other hand, not all people living or residing in Switzerland, or in the European Union. There are many people and therefore this difference too”Bollinger added.
After the invasion of Ukraine, the Swiss federal government quickly decided to align itself with the sanctions imposed from the European Union (EU). A decision that received some criticism from those who consider it an attack on the traditional neutrality of the Swiss Confederation.
Swiss It is one of the destinations traditionally chosen by Russian millionairesor by companies in this country, especially since it is one of the trading centers of the world trade raw material.