Syria Switzerland has frozen CHF 99 million in Syrian funds

Switzerland has frozen Syrian assets worth around 99 million Swiss francs. The State Secretariat for Economic Affairs confirmed a corresponding media report on Wednesday at the request of the Keystone-SDA news agency.

The "Neue Zürcher Zeitung" had reported on this. The Federal Council issued the ordinance on measures against Syria on May 18, 2011. At the time, Switzerland joined the sanctions imposed on Syria by the European Union (EU). These were imposed due to the violent repression of the civilian population by the Syrian armed and security forces.

As long as the EU sanctions against Syria remain in place, Switzerland can also maintain its sanctions, according to the State Secretariat for Economic Affairs (Seco). Switzerland is following the situation closely, including developments in the EU.

Comparatively little of the Assad regime's money is held in Swiss bank accounts. One reason for this, in addition to the sanctions in place since 2011, is the withdrawal of Swiss banks. According to the newspaper report, they had already withdrawn from the once flourishing business with Syria in the noughties.

Sanctions against Assad ministers

At the beginning of the week, Switzerland placed three ministers of the Assad regime on the list of persons subject to sanctions. They are accused of being partly responsible for the violent repression of the civilian population in Syria, the statement continued. Among other things, they are subject to an entry ban.

Last March, the Office of the Attorney General charged Rifaat al-Assad, an uncle of Bashar al-Assad, who has since been overthrown in Syria, with war crimes and crimes against humanity. He is alleged to have been responsible for the massacre in the Syrian city of Hama in February 1982, in which between 10,000 and 40,000 people lost their lives.

SDA