The confiscation procedure in Switzerland will apply to all assets subject to confiscation, totaling more than 130 million Swiss francs.
Today, February 15, the Swiss government allowed to start the procedure for the confiscation of the frozen assets of the environment of the former president of Ukraine, Viktor Yanukovych. This was reported by the press service of the Swiss Federal Council.
“At its meeting on February 15, 2023, the Federal Council decided to initiate administrative proceedings for the confiscation of assets frozen in Switzerland after the Ukrainian revolution of February 2014. The Swiss confiscation procedure will apply to all of assets subject to confiscation, totaling more than 130 million Swiss francs. In this step, Switzerland supports Ukraine.
It is noted that this decision is not related to the sanctions against Russia adopted in 2022.
Thus, the Federal Council ordered the Federal Department of Finance (FDF) to open a series of forfeiture proceedings before the Federal Administrative Court (FAC). The purpose of the trial is to confiscate the assets of politically exposed persons and their close associates, which are likely to be of illegal origin. The defendants are linked to former Ukrainian President Yanukovych, who fled the country in February 2014 during the Revolution of Dignity.
It was noted that the assets will remain frozen until the Swiss administrative justice system’s final decision on confiscation, and all assets that are finally confiscated will be returned to Ukrainians.
The statement also stated that the procedure for confiscation of assets is applied only in exceptional cases.
It was previously reported that Switzerland refused to confiscate the fixed assets of the Russian Federation
The EU has created a working group on the transfer of Russian assets to Ukraine
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.