The Swiss government announced on Tuesday that the value of Russian assets frozen in the country has risen to 7.4 billion Swiss francs ($8.38 billion) by the end of March 2025, up from 5.8 billion francs last year, due to newly identified funds and ongoing investigations into sanctions violations.
The Swiss government has reported a significant increase in the value of Russian assets frozen within the country, reaching 7.4 billion Swiss francs ($8.38 billion) by March 2025, up from 5.8 billion francs the previous year. Officials attribute the rise to the identification and blocking of additional funds.
According to ISNA, the Swiss economy ministry linked much of this increase to a criminal investigation by the Swiss attorney general’s office into alleged sanctions violations and money laundering. While the ministry did not disclose specific details regarding the individuals or entities involved, it referenced an ongoing case that became public in August 2024. At that time, Swiss media, including Le Temps, reported that Switzerland had seized 1.3 billion francs and was investigating four individuals connected to sanctioned Russian billionaire Suleiman Karimov.
The economy ministry also noted that multiple cases are under investigation involving potential sanctions breaches by Swiss companies using foreign subsidiaries in the goods sector. Among the frozen assets are real estate, luxury vehicles, private aircraft, and valuable artworks.
Switzerland, traditionally known for its neutral stance, has faced increasing international pressure to prevent sanctions circumvention, particularly following Russia’s invasion of Ukraine in February 2022.
Iran’s Revolutionary Guards (IRGC) said on Wednesday they attacked two U.S. vessels and eight oil tankers in the Persian Gulf, calling the st...
Kazakhstan is stepping up investment in the Middle Corridor as rising freight volumes and demand for more diverse trade links drive the rapid expan...
Georgia’s International Maritime Forum has closed in Batumi with officials setting out investment targets, timelines and technical plans aime...
Four people were killed, including a child, in Ukrainian strikes on the Russian port city of Novorossiysk overnight, according to the governor of the Krasnodar region. Ukraine's drone forces commander, Robert Brovdi, said Russian military ships were destroyed in the attacks.
A TV channel was struck during a live broadcast on Tuesday, Ukrainian President Volodymyr Zelenskyy said, as Russian strikes on Kyiv killed at least three people, the city's Mayor Vitali Klitschko said. Meanwhile, drones hit civilian infrastructure in Russia's southwestern Saratov region.
U.S. Central Command (CENTCOM) said its forces destroyed five Iranian crude oil carriers after the Islamic Revolutionary Guard Corps (IRGC) allegedly launched two ballistic missile attacks against a U.S. Navy warship over the past two days.
Wildfires have broken out in Türkiye’s Antalya province, forcing hundreds of people to evacuate as strong winds fuelled the flames.
U.S. special envoys Jared Kushner and Steve Witkoff have held talks with Ukrainian President Volodymyr Zelenskyy in Kyiv on Sunday on efforts to end Russia’s war in Ukraine.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment