Switzerland blocks Russian $9bn assets

Brussels 27.04.2022 Switzerland has decided to ban Russian nationals from registering trusts there, its government said Wednesday, April 27, to prevent a potential EU sanctions evasion. It also replicated the EU sanctions on imports of Russian lignite, coal, caviar, timber and seafood, along with the exports to Russia of some chemicals and industrial robots.

It earlier blacklisted over 200 Russian individuals and entities “in view of Russia’s ongoing military aggression in Ukraine”.

The sanctions were also extended the ban on export of banknotes and sales of securities in Swiss francs and euros to Belarusian nationals and entities to cover all official EU currencies. The same measure is planned for Russia.

Switzerland froze approximately 9 billion francs ($9.34 billion) of Russian assets. This is reported by Reuters with reference to a publication in the Swiss newspaper Neue Zuercher Zeitung.
The mentioned amount is about one and a half billion francs more than the one reported by the country’s authorities in early April. The Swiss government has not yet commented on this information and has not responded to a request from journalists.

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