The amount of assets of the Central Bank of Russia in Switzerland was announced

The Swiss State Ministry of Economy (SECO) reported that a total of 7.4 billion Swiss francs ($8.3 billion) in reserves and assets of the Central Bank of Russia are located in Switzerland.

SECO has published data on the assets of the Central Bank of Russia in the country, as part of the new information obligations of the tenth package of sanctions of the European Union (EU) against Russia.

Consequently, 7.4 billion Swiss francs ($8.3 billion) in Central Bank of Russia assets are held throughout Switzerland.

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It was claimed that transactions related to the management of such assets were banned after the Russian-Ukrainian war, and the Swiss government was informed today about the amount of assets and reserves of the Russian Central Bank.

In the statement, it was noted that the assets of the Central Bank of Russia in Switzerland should not be confused with frozen assets worth 7.5 billion francs because they belong to sanctioned Russian businessmen or Russian companies.

Recalling that there are EU-wide discussions on the permanent seizure of Russian Central Bank assets abroad and their use for the reconstruction of Ukraine, it was noted that the Swiss government “closely” followed these discussions.

Switzerland ended its “historic neutrality” by joining the EU’s 10th package of sanctions against Russia in February 2023, a year after the start of the Russia-Ukraine war.