Switzerland lacks legal basis to confiscate Russian assets

Russian assets asset confiscation frozen funds Swiss government financial sanctions

Swiss authorities have stated that there are no legal grounds for the confiscation of frozen Russian assets, which include both private holdings and those belonging to the Central Bank of Russia.

The total value of frozen private Russian financial assets in Switzerland has increased from 7.4 billion francs in 2025 to 8.5 billion francs in 2026. Meanwhile, the Central Bank of Russia estimates its frozen assets at approximately 200 billion euros, the majority of which is held at Euroclear, Europe’s largest depository.

The Russian Ministry of Foreign Affairs has repeatedly characterized the blocking of Russian assets in Europe as theft, noting that measures target both private and state property. Russian Foreign Minister Sergey Lavrov has warned that Moscow will retaliate if its assets are confiscated.

Entities

Central Bank of Russia · Euroclear · Sergey Lavrov

Sources

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