10:28 20.12.2018

Switzerland extends freeze on assets of Yanukovych for one year — embassy

2 min read
Switzerland extends freeze on assets of Yanukovych for one year — embassy

Switzerland's Federal Council has extended the freeze on the assets of former president of Ukraine Viktor Yanukovych and his entourage for one year, the Swiss embassy in Ukraine has said.

"The Federal Council of Switzerland has decided to extend for one year the freeze on the assets of ousted Ukrainian president Yanukovych and his entourage," the Swiss embassy in Ukraine wrote in a tweet on December 20.

"The purpose of this decision is to support the judicial cooperation between Switzerland and Ukraine," the embassy said.

As reported earlier, in 2014, Switzerland froze the assets of Yanukovych to the tune of CHF 70 million.

On December 9, 2016, the Federal Department of Foreign Affairs of Switzerland said the freeze on the Ukrainian assets worth CHF 70 million was extended by a decision of the Federal Council until February 2018.

The Federal Act on the Freezing and the Restitution of Illicit Assets held by Foreign Politically Exposed Persons (FIAA), which came into force on 1 July 2016, governs the duration of freezes and annual extensions to them. An extension is possible if cooperation within the framework of mutual legal assistance bears fruit.

On December 19, 2018, the Federal Council decided to extend the freezes on the assets relating to ousted president Ben Ali of Tunisia (CHF 56 million) and ousted president Yanukovych of Ukraine (CHF 70 million) for one more year.

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