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Switzerland seeks to confiscate USD 140 mn linked to Ukraine’s ex-President Yanukovych – Reuters

Viktor Yanukovych. Photo:
Switzerland seeks to confiscate USD 140 mn linked to Ukraine’s ex-President Yanukovych – Reuters

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.

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