BERN, Dec 1 (Reuters) - Switzerland has frozen an estimated 7.7 billion Swiss francs ($8.81 billion) in financial assets belonging to Russians, the government said on Friday, under sanctions designed to punish Moscow for its invasion of Ukraine.
The State Secretariat for Economic Affairs (SECO), the agency overseeing sanctions, said the 7.7 billion francs figure was only its latest estimate and was subject to change.
Bern has also blocked the movement of 7.4 billion francs in foreign currency assets belonging to the Russian central bank.
SECO declined to comment on which individuals have had their assets frozen.
Still, the frozen assets are only a fraction of the total wealth held by Russians in Switzerland, with the country's banks holding 150 billion francs, according to estimates by the Swiss Bankers Association.
Persons:
Alain Berset, John Revill, Gareth Jones, Alison Williams
Organizations:
Secretariat, Economic Affairs, Swiss Bankers Association, Ukraine, European, Thomson
Locations:
BERN, Switzerland, Moscow, Ukraine, European, Swiss, Bern, Russian