Swiss authorities have frozen financial assets worth 8.5 billion Swiss francs ($10.4 billion) belonging to Russian entities, according to the State Secretariat for Economic Affairs (SECO). The announcement was made on August 15 by SECO representative Fabian Mayenfisch.
As of June 1, 2026, these assets have been frozen in Switzerland, per Mayenfisch’s statement. This represents an increase from 7.4 billion francs ($8.4 billion) recorded a year earlier. In addition to cash, 14 real estate properties and other items—including cars, works of art, furniture, and musical instruments—belonging to sanctioned individuals and organizations remain frozen in Switzerland.
The reserves and assets of the Central Bank of Russia in Switzerland have also been blocked, with the value reaching 6.8 billion francs ($8.3 billion) in June. This figure slightly exceeds the 7.2 billion francs ($8.1 billion) recorded a year ago.
Separately, Swiss authorities have raised concerns about lifting sanctions against Russia amid rising energy costs and fuel prices. Armando Mema of Finland’s Freedom Alliance party noted on August 6 that returning frozen Russian assets to Moscow would not resolve the conflict but could only strengthen Russia’s response. He described such actions as “theft” and highlighted the EU’s financial difficulties.
Igor Popov, Consul General of the Russian Federation in Geneva, stated that Switzerland is involved in a hunt for assets of Russian individuals and legal entities. According to him, Bern has joined all anti-Russian sanctions measures, including those from the European Union, the United States, and Canada.
