Switzerland reported Wednesday that it has initiated the corresponding procedure to confiscate frozen assets worth 130 million Swiss francs (more than 131 million euros) from the entourage of former Ukrainian President Viktor Yanukovych, although the measure is not related to the sanctions on Russia for the invasion of Ukraine, as the blocking of these assets dates back to 2014.
The Swiss authorities argue that the assets of these people close to the deposed president Yanukovich would have an illicit origin and are therefore subject to the possibility of being confiscated for subsequent return to the Ukrainian people under international agreements.
Shortly after the start of the Russian invasion of Ukraine almost a year ago now, Switzerland already considered launching proceedings to confiscate DM 100 million (EUR 101 million), an amount to which it has now added a further DM 30 million (EUR 31 million).
The measure is covered by the Foreign Illicit Assets Act (FIAA) of Swiss law and «only applies in exceptional circumstances» and «under strict conditions», the precondition being that the foreign state has unsuccessfully attempted to confiscate such assets, as has been the case in Ukraine.
After his overthrow in 2014, Switzerland ordered to freeze the assets of both Yanukovych and his closest circle, but despite criminal proceedings to recover them and collaboration with Swiss authorities, Ukraine «encountered certain difficulties», says the Swiss government statement.
To date, it has not been possible to issue judgments to confiscate these assets and since the Russian invasion of Ukraine «has severely exacerbated these difficulties», Switzerland considers it appropriate to launch this process.
Source: (EUROPA PRESS)
