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Swiss Hunt for Russian Wealth Criticized Despite $6 Billion Haul

April 6, 2022, 12:18 PM

Switzerland’s implementation of sanctions against Russian oligarchs has so far netted a haul of around $6 billion in seized assets. But the limits of its hands-off approach are starting to become evident.

Until now, the government has relied on banks to report funds held by sanctioned individuals, and the State Secretariat for Economic Affairs has blocked around 10 properties, according to local media reports. Leaders of the Social Democrats, who form part of the government, said Tuesday that SECO doesn’t have the resources to do the job properly.

Critics say Switzerland could be doing much more given that there may ...