Switzerland holds more than $8 billion in assets of the Russian Central Bank

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The Swiss Ministry of Economic Affairs announced Wednesday that a total of 7.4 billion Swiss francs ($8.3 billion) of reserves and assets of the Russian Central Bank are being held in Switzerland.

The Swiss Ministry of Economic said in a statement that transactions related to the management of the assets and reserves of the Russian Central Bank have been prohibited for a month, due to the Russian invasion of Ukraine that began in February 2022, adding that the bank’s assets have been frozen.

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