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Switzerland Freezes $6.1 Billion in Assets of Russian Oligarchs, Politicians

Suiza congeló 6.100 millones de dólares en activos a oligarcas y políticos rusos

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The Swiss government froze assets of Russian citizens sanctioned for the war in Ukraine, worth $6.1 billion, an official of the Swiss Ministry of Economy said on Thursday.

The figure, which includes properties of those sanctioned in tourist areas of Switzerland, may increase as new assets are identified, Erwin Bollinger, head of bilateral economic relations at the ministry, told a press conference.

The sum is one of the first indicators of the fortune accumulated in the Central European country by businessmen, politicians, and other people close to the high spheres of Russian power and who have been targeted by the sanctions.

The list of those sanctioned by Switzerland, similar to that of the European Union, includes hundreds of Russian citizens, including President Vladimir Putin, Foreign Minister Sergey Lavrov, members of the Duma (Russian Parliament), top executives of technology and telecommunications firms, and other oligarchs.

President of the Swiss Bankers Association Marcel Rohner estimated last week that the country’s banks held between 150 and 200 billion francs ($161-214 billion, 146-195 billion euros) in assets belonging to Russian clients, although he did not detail how much of these fortunes are in the hands of internationally sanctioned individuals.

Ukrainian President Volodymyr Zelensky said that Switzerland has often been a haven for the fortunes of Russian businessmen and politicians responsible for the invasion of his country.

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