Credit Suisse froze more than a third of Russian assets in Switzerland

According to a local newspaper, Credit Suisse (CS), one of Switzerland’s largest banks, blocked or froze more than a third of Russian assets registered in Switzerland – 17.6 billion francs (over $ 19 billion). Sonntags Zeitung on the basis of information received from the bank.
According to official data from the country’s authorities, due to the sanctions on Russia’s special operation in Ukraine, Switzerland froze the assets of the Russian Federation worth 7.5 billion Swiss francs and blocked 15 properties. According to SonntagsZeitung, about $50 billion of Russian funds have been declared in the country.
“CS says it has blocked or frozen Russian assets worth 17.6 billion Swiss francs. This is more than a third of all registered Russian assets in Switzerland,” the newspaper said.
The publication believes that only about 4 billion Swiss francs of this amount belonged to those falling under the Bern sanctions. The remaining 13.6 billion are assets that are not directly subject to sanctions in Switzerland but are actually frozen. These funds may belong to the Russian state and the Central Bank of the Russian Federation, as well as persons on the sanctions lists of other countries.