Switzerland Freezes Approximately $6.17 Billion in Russian Assets; Figure May Increase

Switzerland's government has frozen approximately $6.17 billion in Russian assets that are subject to sanctions, according to Reuters.

“Following new reports and potential additions to the European Union's sanctions list, it is likely that this figure may increase,” said Erwin Hollinger, a senior official at the State Secretariat for Economic Affairs (SECO), overseeing sanctions enforcement.

According to estimates by the Swiss banking lobby, Russian capital in their banks could reach up to $213 billion. Hollinger noted that not all Russian wealth in the country is subject to sanctions.