The case

Last week Treasury Deputy Secretary Wally Adeyemo and Deputy Attorney General Lisa O. Monaco convened the Russian Elites, Proxies, and Oligarchs (REPO) Task Force Deputies to accelerate oligarch asset forfeiture efforts in response to Russia’s illegal war in Ukraine. For more see link. 

Source: US DoJ and SECO

The commentary

At the beginning of July 2022, CHF 6.7 billion in assets and 15 properties were frozen in Switzerland. According to SECO, the amount of frozen assets is not a measure of how effectively the sanctions are being implemented, but it is a snapshot. The value can fluctuate in both directions: on the one hand, new reports are constantly being received, on the other hand, it happens that assets that have been frozen as a precautionary measure are released again after the corresponding clarifications (Source: SECO)

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