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Swiss media: Credit Suisse bank freezes $19 billion in Russian assets

by The Kyiv Independent news desk February 12, 2023 5:55 PM 1 min read
This audio is created with AI assistance

Swiss bank Credit Suisse blocked over $19 billion in Russian money, according to SonntagsZeitung newspaper.

By doing so, Credit Suisse alone reportedly froze a third of all declared Russian assets in Switzerland.

According to the publication, out of the $19 billion, only $4.32 billion belong to people from the Swedish sanctions list. The remaining $14.7 billion are that of people under other countries’ sanctions.

Credit Suisse also reportedly froze funds of the Russian Central Bank or the Russian state.

The State Secretariat for the Economy of Switzerland previously announced the freeze of Russian assets worth $8.1 billion and 15 real estates as part of sanctions the country imposed on Russia for its full-scale invasion of Ukraine.

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