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In Switzerland, Russian assets are frozen at 6.3 billion francs

Currently in Switzerland, Russian assets worth 6.3 billion Swiss francs and about 6 billion euros are frozen. Erwin Bollinger, head of bilateral economic relations service at the State Secretariat for Economic Affairs (Seco), pointed this out in Bern today, citing assets frozen in the wake of sanctions against Russia following the Ukraine invasion. This is a decrease of 1.2 billion Swiss francs compared to April: the evolution of funds released after precautionary withholding of checks. In fact, on April 7, Russian assets worth 7.5 billion Swiss francs (approximately 7.17 billion euros) were frozen in the Swiss Confederation. Since then, a further 2.2 billion francs of assets have been frozen, but 3.4 billion francs that had been precautionarily frozen have been released. After the freeze, the lenders, along with Seco and foreign officials, conduct an “in-depth analysis” to make a final decision on whether to confirm the freezing of assets or release them. Lucas Wreckley, vice president of sanctions at Seco, pointed out that freezing assets can expose you to legal action in the absence of well-established reasons.

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