Swiss authorities freeze US$1.5 billion of Suleyman Kerimov assets
The Swiss State Secretariat for Economic Affairs (SECO) has frozen 1.3 billion Swiss francs (US$1.5 billion) suspected to be connected to Russian Senator Suleyman Kerimov. The move is part of an ongoing investigation by the Swiss Federal Public Prosecutor’s Office into money laundering and sanctions violations involving four individuals associated with the billionaire.
The probe, which began in November last year, was initiated at SECO’s request. Since then, authorities have conducted eight house searches, though no arrests have been made. The blocked funds represent a significant sum in cases of this nature.
This case forms part of a broader effort by Swiss authorities to enforce sanctions related to Russia’s invasion of Ukraine. To date, Switzerland has frozen a total of 7.1 billion francs (US$8.2 billion) in Russian assets, including real estate, luxury vehicles, and artworks.
While the prosecutor’s office has withheld the names of the defendants, it confirmed the investigation’s connection to Kerimov. The case was reportedly launched after the U.S. imposed sanctions on Kerimov’s family members and 28 companies linked to them.
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