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New funds allocated to Russian sanctions: 580 million francs frozen
Find out how Switzerland continues to block Russian funds and combat money laundering. New measures are causing a stir! 🇨🇭💰 #Switzerland #Russia #Money laundering #Sanctions
New funds allocated to Russian sanctions: 580 million francs frozen
Last year, Switzerland discovered additional funds attributable to sanctioned Russian individuals and companies. According to the State Secretariat for Economic Affairs (SECO) in Bern, assets worth 580 million francs have been newly blocked. These funds were particularly well hidden via front men and shell companies. In total, Russian assets worth 5.8 billion francs were frozen in Switzerland at the end of 2023, a decrease of 1.7 billion francs compared to December 2022. This suggests that efforts to block Russian funds continue, but further measures may be necessary to combat financial flows even more effectively.