Switzerland blocks CHF 7.5bn of Russian assets

Friday, 8 April 2022 06:30

Switzerland has blocked CHF 7.5bn in Russian assets since sanctions were announced.

But there could be as much as CHF 200bn of Russian money in Swiss banks, according to the Swiss Bankers Association.

But Erwin Bollinger from the State Secretariat of Economic Affairs, which is overseeing the sanctions, says not all Russians in the country are under sanctions.

Bollinger told the press Switzerland had blocked more money than any other country, but cited only the Netherlands which has seized CHF 500m.

Other countries have not released any information.

He says this country will continue to apply the sanctions set by the EU

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