Switzerland reveals the size of its frozen Syrian assets
The Swiss government announced on Wednesday that the value of Syrian assets frozen in Switzerland amounts to about 99 million Swiss francs ($112 million), most of which have been frozen for years.
The State Secretariat for Economic Affairs reported that the bulk of these funds have been frozen since Switzerland imposed European Union sanctions on Syria in May 2011.
This week, Switzerland added three new individuals to its Syria-related sanctions list, in line with EU decisions.
A spokesman for the State Secretariat for Economic Affairs told Reuters the current list includes 318 individuals and 87 entities, but didn’t say whether any assets belonging to Syrian President Bashar al Assad were frozen.
According to the Neue Zürcher Zeitung, Swiss financial institutions previously held frozen Syrian assets worth 130 million Swiss francs ($147 million).
The spokesman said the difference in the value of the frozen assets was due to several factors, such as fluctuations in the value of securities accounts, changes in exchange rates, and the removal of certain individuals or entities from the sanctions list.
