Switzerland has launched proceedings to confiscate more than 130 million Swiss francs ($140.89 million) presumed to be of “illicit origin” and linked to the entourage of former Ukrainian President Viktor Yanukovych, who fled to Russia after being ousted by mass protests in 2014, Reuters reported.
Switzerland last year began looking into confiscating 100 million Swiss francs after Russia’s invasion of Ukraine but raised the targeted amount to 130 million francs following further deliberations.
The assets will remain frozen pending a final decision by the Federal Administrative Court, the Swiss government said in a statement, adding that any assets that are seized will be returned to the Ukrainian people under an international agreement, according to Reuters.
- Ukraine’s high anti-corruption court confiscated all property of the ex-president Yanukovych
- EU Council sanctioned fugitive Ukrainian President Yanukovych and his son
- US sanctions Ukrainian ex-president Yanukovych’s official, Contitutional Court judge for corruption (2021)