A massive CHF 46bn of Russian assets are dormant in Switzerland.
The figures have been released by the State Secretariat for the Economy.
Authorities say the real number could be much higher.
Russian nationals with less than CHF 100,000 in assets don’t need to declare, nor do Russians who also hold either a Swiss or EU or EEA passport.
Also, officially recognised Russian nationals who are Swiss residents don’t need to declare.
Economic outlook uncertain for this year
Switzerland’s economic outlook remains cautious, with the KOF Swiss Economic Institute forecasting growth of around one percent in 2026,although that depends on falling oil prices.
Geneva bans the burkini
Geneva’s parliament has voted to ban the burkini in public swimming pools, ending months of heated debate.
Birthday candles banned in Geneva schools
In response to the fire in Crans Montana, birthday candles have been banned in Geneva’s primary schools.
Transit tax moves closer
Switzerland is moving closer to introducing a transit tax for foreign vehicles crossing the country.
Fake Nyon officer fined
A man in his fifties has been convicted in Vaud after impersonating a police officer in several towns, including Rolle and Nyon.
Heavy traffic this Easter
Heavy traffic is expected across Switzerland over the Easter holiday period, particularly on the A2 Gotthard autoroute and the A13 San Bernardino route from March 27.
