< Back

Switzerland starts confiscation of assets of Yanukovych's entourage

Feb 16, 2023

Switzerland has initiated a procedure to confiscate the assets of the entourage of fugitive former President Viktor Yanukovych. This was reported by the press service of the Swiss government on February 15.

"At its meeting on February 15, the Federal Council decided to initiate new administrative confiscation procedures for assets blocked in Switzerland as a result of the Ukrainian revolution of 2014," the statement said.

These are assets totaling more than $140 million. These are the assets of individuals believed to be associated with former Ukrainian President Viktor Yanukovych. The confiscation procedure was initiated on suspicion of illegal origin of these funds.

The Federal Council also noted that this decision was not related to the sanctions against Russia adopted in 2022. The first procedure was launched in May 2022: it concerned the confiscation of about 100 million francs. Then the procedure was launched to confiscate another 30 million francs.

"The assets will remain blocked until the Swiss justice system makes a final decision on confiscation. If these assets are finally confiscated, they will be restituted in favor of the Ukrainian population under an international agreement," the government said.

Author - Serhii Kolomiets, 16/02/2023

Recent news