Switzerland froze the assets of the Central Bank of the Russian Federation for almost $8.3 billion

The total amount of reserves and assets of the Central Bank of Russia in Switzerland is almost $8.3 billion. The Federal Council decided to freeze Russian finances. This was reported by the press service of the Federal Council of Switzerland.

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On March 29, the Council adopted mandatory reporting of reserves and assets, this obligation is also applied in the EU in accordance with sanctions against the Russian Federation. However, by the certain deadline – April 12, the relevant documents were not received.

“The total amount of registered reserves and assets of the Russian central bank stored in Switzerland is about 7.4 billion Swiss francs,” the message says.

It is also noted that this amount of assets should be distinguished from the second amount of frozen funds and assets in Switzerland ($8.4 billion), the latter owned or controlled by persons, companies or organizations subject to sanctions and subject to asset freezing.

“Discussions continue in the EU about whether the assets of the Russian Central Bank should be invested, and the received funds will be used to restore Ukraine. Switzerland is closely following these discussions,” the Federal Council notes.

Reporting on reserves and assets of the Central Bank of the Russian Federation remains mandatory, and reporting will be carried out regularly, quarterly.

Let’s remind

Earlier, the Ministry of Finance wrote that Belgium has frozen the assets of the Russian Federation for 180 billion euros and plans to direct the proceeds from them to the restoration of Ukraine.

It was also reported that Austria froze Russian financial assets of almost 2 billion euros.

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Source: Ministry of Finance

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