Swiss bank Credit Suisse has frozen more than €19 billion belonging to Russian oligarchs

Previously, it was believed that €7.5 billion were blocked in all Swiss banks.

The total number of frozen assets became known from the quarterly report of Credit Suisse.

This bank had significant difficulties last year. In 2022, it suffered the most significant losses since 2008.

The total value of assets managed by the bank's specialized unit fell by about €200 billion. This amount includes €19 billion owned by Russians. These assets have been "reclassified." This means that some of these assets are directly under sanctions, while the rest cannot be used, even though their owners are not yet under sanctions.

At the same time, the total amount of Russian funds in Switzerland is estimated at €46 billion. This number includes only those accounts with more than €100 thousand.