Switzerland explained refusal to seize Russians’ frozen assets

Switzerland refused to seize the frozen assets of the Russians for lack of grounds

The Swiss authorities will freeze, but not confiscate, the assets of the Russians who fell under the sanctions. This is reported by the representative of the State Secretariat for Economic Affairs (SECO) Erwin Bollinger, reports RIA Novosti.

The country, he said, is acting on a long-standing practice of only blocking property and assets, but still formally belonging to those subject to the sanctions. There are no necessary legal grounds for the abolition of property rights in Switzerland, Bollinger explained the refusal to seize.

The volume of Russian assets blocked in Switzerland is about 5.7 billion Swiss francs, or more than 6.1 billion dollars. In particular, the authorities of the canton of Bern have made it impossible to sell or pledge real estate belonging to Russian businessman Pyotr Aven, who is on the sanctions lists of Switzerland and the EU.

Switzerland agreed on February 28 to recognize EU sanctions against Russia and to impose the same measures. A week ago, the country introduced restrictive measures against more than 200 individuals and legal entities from Russia. A few days later, she also joined the US and European ban on the supply of luxury goods to Russia.

Source: Lenta


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