Switzerland allowed to begin the procedure of confiscation of the assets of Yanukovych’s entourage
The Federal Council of Switzerland (Swiss government) at its meeting on February 15 decided to start the administrative procedure for the confiscation of assets frozen in Switzerland after the Ukrainian revolution in February 2014.
This was stated in an official statement on the website of the Swiss government on Wednesday, “European Truth” reports.
“The confiscation procedure in Switzerland will apply to all assets subject to confiscation – a total of more than 130 million Swiss francs (140.6 million US dollars. – Ed.). By taking such measures, Switzerland supports Ukraine,” the statement said.
It is noted that today’s decision is not related to the sanctions against Russia introduced in 2022.
The Federal Council instructed the Federal Department of Finance to initiate a series of confiscation proceedings in the Federal Administrative Court, the purpose of which is to confiscate the assets of politically significant individuals and their close associates. The assets are believed to be of illicit origin.
The message emphasizes that the mentioned persons were related to the former president of Ukraine, Viktor Yanukovych, who was overthrown as a result of the Revolution of Dignity.
The Swiss government also cites the history of the issue. In particular, it is alleged that on May 25, 2022, the government instructed the Federal Department of Finance to initiate the first confiscation proceedings of approximately 100 million Swiss francs.
After further discussions, the Federal Council instructed the Federal Department of Finance to open proceedings for a further 30 million Swiss francs, bringing the total amount of assets subject to confiscation to over 130 million Swiss francs.
The assets will remain frozen pending a final confiscation decision by the Swiss judicial system.
Any assets that are finally confiscated will be returned to the Ukrainian people in accordance with the international agreement.
The statement also indicated that Ukraine initiated criminal proceedings to confiscate these frozen assets in Switzerland, sending several letters to the Swiss authorities asking for mutual assistance. Since then, Switzerland has provided Ukraine with numerous documents and other evidence.
Despite this cooperation, since the opening of the criminal proceedings, the Ukrainian authorities have faced certain difficulties in their efforts to confiscate the assets located in Switzerland. To date, the Ukrainian authorities have not been able to issue a decision on their confiscation. Russia’s military aggression against Ukraine, launched in 2022, greatly complicated these difficulties. In view of this, the Swiss Federal Council considers that the initiation of the confiscation procedure is currently possible and appropriate.
In May last year, it was reported that the Swiss government plans to confiscate assets worth more than 100 million Swiss francs from Yury Ivanyushchenkoassociate of the former president of Ukraine Viktor Yanukovych.
According to Swiss law, the maximum duration of the asset freeze limited to 10 years.
