The volume of private Russian assets that were frozen by Switzerland as part of sanctions has remained unchanged since November 2022 and is still $8.6 billion, Fabian Maienfisch, a spokesman for the Swiss State Secretariat for Economic Affairs (SECO), told Sputnik on Thursday
GENEVA (Pakistan Point News / Sputnik - 04th August, 2023) The volume of private Russian assets that were frozen by Switzerland as part of sanctions has remained unchanged since November 2022 and is still $8.6 billion, Fabian Maienfisch, a spokesman for the Swiss State Secretariat for Economic Affairs (SECO), told Sputnik on Thursday.
"There has been no changes in the total volume (since November 25, 2022). However, new assets are constantly being blocked and some others unblocked. This is due to the fact that clarifications (received by us) have shown that those assets should not have been blocked. Banks sometimes block funds as a precaution," Maienfisch said.
Bern is "closely monitoring" the current discussions in the European Union regarding the possibility to use the frozen assets of the Russian Central Bank for investment purposes and for restoring Ukraine, he added.
Despite its proclaimed neutrality, Switzerland has supported almost all sanctions imposed against Russia after the latter launched its special military operation in Ukraine. In late June, Swiss Foreign Ministry spokesman Pierre-Alain Eltschinger told Sputnik that Switzerland was also ready to take part in the international discussions on the confiscation of the frozen assets of the Russian Central Bank.
Moscow has on many occasions said that any attempts to confiscate frozen Russian assets are an expropriation of property and a violation of international law. Kremlin spokesman Dmitry Peskov told Sputnik that Russia would do everything possible to return the seized assets.
