7.4 billion Swiss francs from the Russian central bank in Switzerland

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The total amount of reserves and assets held by the Russian Central Bank in Switzerland is approximately 7.4 billion Swiss francs. This was announced by the Ministry of Economy in Bern on Wednesday. There are also about 7.5 billion Swiss francs from sanctioned entities or individuals whose assets were frozen due to the Ukraine war.

The Ministry announced that since March 25, 2022 – about a month after the start of Russia’s war of aggression against Ukraine – “all kinds of operations related to the management of reserves and assets of the Central Bank of the Russian Federation are prohibited.” At the end of March this year, the Swiss government decided that organizations, institutions and individuals must report their assets to the Russian central bank by April 12. These data have now been published.

“Switzerland is following the discussions closely”

Traditionally neutral, Switzerland has decided to join EU sanctions against Russia, four days after Russia’s war of aggression against Ukraine began on February 24, 2022. Since then, banks in the country have been obliged to provide information about individuals or companies affected by these sanctions. The sum of these blocked funds and assets is 7.5 billion Swiss francs.

The Ministry of Economy in Bern said Wednesday that there are talks in the EU about using the assets of the Russian central bank for investments and using the proceeds to rebuild Ukraine. “Switzerland is following these discussions closely,” the statement said. (AFP)

Source :Blick