By Maya Lester KC & Michael O’Kane

Switzerland says CHF 7.5 billion frozen under Russia sanctions

The Swiss State Secretariat for Economic Affairs announced yesterday that Switzerland has frozen CHF 7.5 billion and 15 properties in 6 cantons under its Russia sanctions. It also said that by 3 June 2022, it had been reported that Russian nationals and entities held CHF 46.1 billion in Switzerland. However, the relevant reporting obligation only covered deposits worth over CHF …

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About Michael O'Kane

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Michael is Senior Partner at Peters & Peters Solicitors LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters &...

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