Bloomberg: Switzerland freezes $14.2 billion in Russian assets

Switzerland announced the freezing of 13 billion Swiss francs, equivalent to $14.2 billion, of Russian assets in the country.

These assets include more than 7 billion Swiss francs of reserves and assets of the Russian Central Bank.

Bloomberg also indicated that the total private assets that were frozen until the end of 2023 reached 5.8 billion Swiss francs.

The Swiss State Secretariat for Economic Affairs said in a statement on Tuesday that this represents a decrease compared to 2022, which is due to the decline in the value of these assets.

Following Russia’s launch of military operations in Ukraine, Western countries-imposed sanctions on Moscow, including freezing part of international reserves and Russian assets.

In a remarkable step, Switzerland abandoned its historical neutrality and decided to adopt European Union sanctions against Russia, a step that sparked much controversy.