Swiss authorities freeze US$1.5 billion of Russian senator's assets

The Swiss State Secretariat for Economic Affairs has blocked 1.3 billion Swiss francs (US£1.5 billion) that may belong to Russian Senator Suleyman Kerimov. Source: Le Temps Details: The Swiss Federal Public Prosecutor's Office is investigating money laundering and sanctions violations against four people associated with Suleyman Kerimov, a Russian billionaire and member of the Federation Council.

In this regard, 1.3 billion Swiss francs (US£1.5 billion) that may belong to him were blocked.

The investigation began in November last year following a request from the State Secretariat for Economic Affairs. Operatives conducted eight house searches, but no one was arrested. The report notes that 1.3 billion francs is a significant amount for this category of cases.

The secretariat reported that a total of 7.1 billion francs (US£8.2 billion) worth of Russian assets have been frozen in Switzerland as part of sanctions over the war in Ukraine.

This amount reportedly includes real estate, luxury cars and works of art belonging to individuals and companies against whom restrictions were imposed.

Apart from the fact that the case is related to Kerimov, the prosecutor's office does not disclose other details, including the names of the defendants, but it is known that it was initiated after the US imposed sanctions on the senator's family members (wife, two daughters and a son), as well as 28 of their companies.

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