Switzerland reveals the value of frozen Russian assets

Switzerland has frozen Russian assets worth 6.7 billion Swiss francs (over $6.8 billion) due to sanctions by early July 2022, the Swiss State Secretariat for Economic Affairs said in a statement.

“As of July 7, 2022, financial assets of 6.7 billion Swiss francs and 15 properties in Switzerland are frozen,” the secretariat said. She added that the asset freeze is a small part of the sanctions imposed on Russia.

Assets were frozen as part of the sanctions imposed on Moscow, and Switzerland imposed sanctions after they were introduced by the European Union, under the pretext of a special operation against Ukraine.

Switzerland banned the export of luxury goods and a group of goods for the Russian industry, as well as a ban on the export of goods from which Switzerland claims that Russia receives significant income, as well as a ban on transactions with the Central Bank of the Russian Federation, and the exit of a number of Russian banks from the SWIFT system (SWIFT ).

For its part, the Russian government reaffirmed its support for national companies affected by the sanctions and announced a set of measures to maintain financial and economic stability in the country.

Source: RIA Novosti

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