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.
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Seven migrants, including a child, died when their boat sank off Lesbos. 23 survivors were rescued, but the search continues. Greece remains a crucial entry point for migrants, underscoring the perilous sea journey many undertake in search of safety and a new life.
The Hungarian government has decided to withdraw from the International Criminal Court (ICC), marking a significant shift in the country's international stance.
UK set to host 2035 Women’s World Cup as FIFA confirms sole bid. The joint bid from England, Scotland, Wales & NI stands uncontested, marking a major milestone for women’s football. Final approval pending, but preparations for a historic event are underway.
The first-ever summit between the European Union (EU) and the five Central Asian nations—Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan - began today in Samarkand, Uzbekistan.
Severe storms across the southern and Midwestern US have caused "generational" flooding and tornadoes, leaving over 400,000 without power. With up to 15 inches of rain expected and more tornadoes, officials warn of catastrophic damage and life-threatening conditions.
Eight OPEC+ countries meeting on Thursday will focus debates on how to convince Kazakhstan to stop exceeding its output quota and its plans to compensate for overproduction as the group steps up gradual production hikes.
During a high-level meeting, officials from Kyrgyzstan and Russia emphasized the growing economic partnership between the two nations, highlighting a 14.5% increase in mutual trade and reaffirming their commitment to further expansion.
Aid groups in Myanmar’s worst-hit areas urgently need shelter, food, and water after a devastating 7.7 magnitude earthquake killed over 2,700 people. Rescue efforts face challenges due to ongoing civil war, damaged infrastructure, and restricted aid access, with the toll expected to rise.
French far-right leader Marine Le Pen was banned from running for public office for five years after being convicted of embezzlement, ruling her out of the 2027 presidential race. She received a four-year prison sentence, with two years suspended, and a €100,000 fine. Le Pen plans to appeal.
Apple marked its 49th anniversary by reaching a market capitalization of $3.3 trillion. Despite recent tech stock volatility, Apple's shares surged 28% in 2024.
The Armenian armed forces attempted three reconnaissance drone flights over Azerbaijan Army positions near Gerenzur, but all were successfully intercepted. Meanwhile, Armenian units repeatedly fired on Azerbaijani positions from multiple regions, escalating tensions in the area.
Eight OPEC+ countries meeting on Thursday will focus debates on how to convince Kazakhstan to stop exceeding its output quota and its plans to compensate for overproduction as the group steps up gradual production hikes.
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Shares in Nike, Adidas, and Puma fell sharply after the U.S. imposed steep tariffs on Vietnam, Indonesia, and Cambodia, key sourcing hubs. The move raises concerns over rising costs and supply chain disruptions, adding fresh uncertainty to global markets.
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The US dollar slumped as President Trump’s tariff announcement sent shockwaves through global markets. With a 10% baseline tariff on imports, fears of a global economic slowdown intensified. Investors sought safe havens as stock markets and currencies faltered.
UK set to host 2035 Women’s World Cup as FIFA confirms sole bid. The joint bid from England, Scotland, Wales & NI stands uncontested, marking a major milestone for women’s football. Final approval pending, but preparations for a historic event are underway.
The first-ever summit between the European Union (EU) and the five Central Asian nations—Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan - began today in Samarkand, Uzbekistan.
Severe storms across the southern and Midwestern US have caused "generational" flooding and tornadoes, leaving over 400,000 without power. With up to 15 inches of rain expected and more tornadoes, officials warn of catastrophic damage and life-threatening conditions.
Eight OPEC+ countries meeting on Thursday will focus debates on how to convince Kazakhstan to stop exceeding its output quota and its plans to compensate for overproduction as the group steps up gradual production hikes.
During a high-level meeting, officials from Kyrgyzstan and Russia emphasized the growing economic partnership between the two nations, highlighting a 14.5% increase in mutual trade and reaffirming their commitment to further expansion.
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