CHF 46bn of Russian cash in Swiss banks

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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.

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