Switzerland freezes Russian assets valued at over $8 billion

As of March 2025, Swiss authorities have frozen Russian assets amounting to 7.4 billion francs (approximately $8.4 billion), the State Secretariat for Economic Affairs (SECO) confirmed.

The figures, disclosed at a virtual press briefing, highlight a slight increase from the 7.1 billion francs ($8 billion) reported in August 2024, Caliber.Az reports via Russian media.

The frozen assets encompass a broad range of properties, including real estate, automobiles, artworks, furniture, and musical instruments, reflecting the diverse nature of the holdings. These measures are part of Switzerland’s adherence to international sanctions aimed at restricting Russian interests following geopolitical tensions.

Simultaneously, the European financial landscape has also seen significant measures taken to secure frozen Russian assets. Euroclear, the prominent Brussels-based clearinghouse, recently announced heightened security protocols concerning its frozen Russian holdings.

With over 200 billion euros of Russian funds currently frozen across the European Union, the majority of these assets are held within Euroclear accounts. This development highlights the ongoing efforts to safeguard these assets while adhering to EU sanctions that have been intensifying since the onset of geopolitical tensions.

The immobilization of such substantial sums in both Switzerland and the European Union underscores the increasing global pressure on Russian financial interests, especially targeting state-controlled entities and individuals close to the Russian government. These actions reflect broader international efforts to limit Russia’s access to global financial markets, with both Switzerland and the EU playing crucial roles in implementing and maintaining these sanctions.

In response to growing concerns over security and compliance, institutions like Euroclear have bolstered their safeguards to prevent unauthorized access to the frozen assets, ensuring that these measures remain robust and in line with ongoing sanctions. As the geopolitical situation evolves, the blocking of Russian assets remains a key strategy in the broader context of international financial diplomacy.

By Vafa Guliyeva