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Russian Assets Seized in Switzerland Jump 30% to $8 Billion

  • Tally represents a 30% jump from total blocked on March 24
  • Swiss banks may hold more than $200 billion in Russian assets
Updated on

Switzerland has blocked 7.5 billion Swiss francs ($8 billion) in Russian assets to date, five weeks after it first imposed sanctions against those seen as close to Vladimir Putin.  

The new figure represents a 30% jump from the 5.75 billion francs reported frozen on March 24 by the Swiss Secretariat for Economic Affairs. The higher tally demonstrates that the implementation of sanctions is functioning well, SECO chief Erwin Bollinger said in the Swiss capital Bern.