Switzerland authorises the confiscation of frozen assets of Yanukovych's entourage — the Government's statement

The Federal Council has instructed the Swiss Federal Department of Finance to initiate proceedings to confiscate the assets of former Ukrainian President Viktor Yanukovych and his entourage.

The assets in question amount to more than 130 million Swiss francs. 

The assets are reported to remain frozen until the final decision of the Swiss administrative justice system. Any property finally confiscated will be returned to the Ukrainian people following an international agreement.

The procedure of asset confiscation is applied only in exceptional cases, the statement emphasises. The law authorises the Swiss administrative justice system to confiscate assets of politically exposed persons, but only under strict conditions.