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.
In a move highlighting growing friction between global trade and digital retail, China on Monday issued new guidance for its rapidly expanding e-co...
Iran’s Permanent Mission to the United Nations in New York has warned that U.S. President Donald Trump’s threat to attack civilian infr...
A new proposal to end hostilities between the United States and Iran could come into effect as soon as Monday, ...
The United Arab Emirates has warned that any settlement between the United States and Iran must guarantee free passage through the Strait of Hormuz...
North Korea's test of a solid-fuel rocket engine is intended for intercontinental ballistic missiles (ICBM) bu...
In a move highlighting growing friction between global trade and digital retail, China on Monday issued new guidance for its rapidly expanding e-commerce sector.
Iran’s Permanent Mission to the United Nations in New York has warned that U.S. President Donald Trump’s threat to attack civilian infrastructure risks dragging the region into an “endless war,” calling for immediate action by the world body.
A new proposal to end hostilities between the United States and Iran could come into effect as soon as Monday, potentially reopening the vital Strait of Hormuz, a source familiar with the plan said on Monday.
The United Arab Emirates has warned that any settlement between the United States and Iran must guarantee free passage through the Strait of Hormuz, the world’s most vital oil route.
U.S. President Donald Trump threatened Iran's energy and transport infrastructure in a social media post containing expletives on Sunday (5 April), as he seperately gave Iran a deadline of Tuesday to reopen the Strait of Hormuz.
The crew of Artemis II mission are entering a pivotal phase of their journey, as they prepare to swing around the Moon and head back towards Earth. Now on the fifth day of their 10-day mission, the four astronauts are already witnessing views no human has ever seen.
The family of the late Virginia Giuffre have urged King Charles III to meet survivors of sexual abuse during his upcoming state visit to the United States.
Senegal has taken steps to curb government spending by banning non-essential foreign travel for ministers, as rising global oil prices place increasing pressure on the country’s finances.
India has purchased crude oil from Iran for the first time in seven years, as supply disruptions in the Middle East threaten global energy markets.
Major automakers showcased new electric vehicles at the New York Auto Show this week, under the slogan “electrification is the future." However, weakening demand in the United States and intense competition with China are raising questions for markets across the globe, including the South Caucasus.
The U.S. national average retail price of petrol rose above $4 a gallon for the first time in over three years on Monday (30 March), according to GasBuddy data, as the U.S.–Israeli war with Iran continued to roil global energy markets.
Japan and Indonesia will deepen coordination on energy security, Tokyo said, as the U.S.-Israeli war on Iran disrupts vital oil and gas flows to Asia.
China's three largest state-owned airlines have issued warnings regarding their financial outlook for the current year, acknowledging that the eruption of war involving Iran has driven jet fuel prices to unsustainable highs.
Stock markets across Asia fell on Monday as escalating conflict involving Iran drove oil prices sharply higher, fuelling fears of inflation and a potential global recession, with investors reacting to disruption risks in the Strait of Hormuz and prolonged hostilities.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment