A government official said on Thursday that Switzerland had frozen roughly 5.75 billion Swiss francs ($6.17 billion) in Russian assets subject to sanctions, and that figure is certain to climb.
‘For the first time today, I can offer you an estimate of the amount of frozen funds. SECO has received notification of monies and assets totaling around 5.750 billion Swiss francs,’ said Erwin Bollinger, a senior official at the State Secretariat for Economic Affairs (SECO), the institution in charge of penalty enforcement.
This included a number of cantonal properties used as tourism resorts, he said at a news conference in Bern.
SECO had previously declined to estimate the size of assets frozen or possibly subject to penalties since the neutral country began imposing European Union sanctions on Russia in response to its invasion of Ukraine.
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