ZURICH (Pakistan Point News / Sputnik - 11th April, 2023) The Swiss government has rejected US calls to freeze extra billions of Swiss francs in Russian assets arguing that only a fraction of money held by Swiss banks could be traced back to Moscow.
State Secretary for Economic Affairs Helene Budliger Artieda told the Neue Zuercher Zeitung daily there was some kind of "misunderstanding" after US Ambassador to Switzerland Scott Miller said last month that Switzerland should block an additional 50 to 100 billion francs ($55-111 billion) in Russian funds.
"The figure of 50 to 100 billion francs was mentioned as a possible estimate of Russian funds under management, and it was not an estimate of the (Swiss) administration. Not all Russians are subject to sanctions � only a small minority," the senior official said.
Switzerland accounts for more than a third of the 21.5 billion Euros ($23 billion) in Russian assets blocked in Europe, while Germany has blocked 2.2 billion euros and France 1.2 billion, Budliger Artieda estimated. She said Bern was prepared to do more as long as the United States provided evidence.
