The Swiss Federal Council has decided to start the procedure of confiscation of assets of associates of ex-President of Ukraine Viktor Yanukovych for a total of more than CHF 130 million (about EUR 131.7 million), the government of the country said on its website.

“At its meeting on 15 February 2023, the Federal Council decided to launch administrative proceedings to confiscate assets frozen in Switzerland following the Ukrainian revolution in February 2014,” a message posted on the government’s website says. It emphasizes that these assets belonging to Yanukovych's entourage had an illegal origin. The Swiss authorities explain that this initiative has nothing to do with the sanctions that Bern has imposed over the past year against Russia.

“The assets will remain frozen pending a final decision by the administrative justice system in Switzerland regarding confiscation. Any assets that are ultimately confiscated will be returned to the Ukrainian people under an international agreement,” the statement reads.