Switzerland frees some of Russia’s sanctioned assets

The Swiss government has reportedly frozen 6.3 billion Swiss francs ($ 6.33 billion) in Russian assets in the form of sanctions.

The Swiss government last month, however, reported that the value of frozen Russian assets in the country was 7.5 billion Swiss francs, equivalent to just over $ 7.5 billion.

“We can not freeze assets without sufficient documentation,” said Erwin Bollinger, a senior official at the Swiss Ministry of Economy who oversees the implementation of the sanctions.

It is estimated that Swiss banks hold about $ 213 billion in assets of Russian personalities, and that the country’s two largest banks, UBS and Credit Suisse, each alone host tens of billions of francs in assets of wealthy Russians.

Statistics show that he has frozen tens of billions of dollars in assets of Russian customers in the form of sanctions against Moscow.

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