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Anti-Russian sanctions

Bern tight-lipped on blocked Russian assets in Credit Suisse

"The data reported by the bank comprise not merely funds blocked as a result of Swiss sanctions but also funds held by individuals and organizations under sanctions in other countries," official spokesman of the State Secretariat for Economic Affairs points out

GENEVA, February 13. /TASS/. Switzerland is refraining from commenting about the blocking of 17.6 bln Swiss francs (over $19 bln) worth of Russian assets by Credit Suisse, official spokesman of the State Secretariat for Economic Affairs (SECO) Markus Spoerndli told TASS on Monday.

"According to the publication in the SonntagsBlick, the data reported by Credit Suisse comprise not merely funds blocked as a result of Swiss sanctions but also funds held by individuals and organizations under sanctions in other countries," the spokesman said. "Therefore, the Secretariat for Economic Affairs cannot comment on such data," Spoerndli noted.

Russian assets worth 7.5 bln Swiss francs ($8.1 bln) were blocked by Switzerland on the basis of Article 16 of the government decree requiring all persons and organizations to inform SECO about any assets they have that are subject to being frozen, he said. SECO, in its turn, "regularly reports the amount of financial assets frozen in Switzerland," the spokesman added.

Swiss newspapers reported earlier that Credit Suisse had frozen 17.6 bln francs, which constitute a third of all Russian assets declared in Switzerland. Just four bln of this amount belong to persons and organizations from the Swiss sanctions list. As regards the other 13.6 bln, they refer to assets held by persons under sanctions in other countries, as well as funds belonging to the Central Bank of Russia and the state, news outlets said.

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Sanctions vs. Russia Economy Switzerland

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Here are the key statements, made during the meeting

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