The Swiss government claimed that the value of financial assets related to sanctions against Russia decreased. On 31 December 2023, the value was CHF 5.8 billion, which is CHF 1.7 billion less than the figure reported for December 2022.
This decrease is explained by a loss in value of certain blocked assets – particularly securities related to Russia – as a result of international sanctions. This was partially offset by revaluation gains of CHF 280 million.
For last year, Swiss officials froze an additional CHF 580 million in financial assets after their own investigations and clarifications from banks. They also blocked two more properties in Switzerland.
Apart from these 17 frozen properties, other assets such as luxury vehicles, artworks, furniture, and musical instruments held by sanctioned individuals and entities in Switzerland were also blocked.
