No frozen personal bank accounts or other assets in Switzerland in the name of Oleksandr Yanukovych
March 6, 2017
Swiss Authorities: There are no frozen personal bank accounts or other personal assets in Switzerland in the name of Oleksandr Yanukovych.
On 9 December 2016 the Swiss Federal Council reported that they had decided to extend the freezing of all the assets in Switzerland of President Yanukovych, as well as of other Ukrainian individuals allegedly associated with him. Amongst other things, the report asserted that “assets amounting to approximately CHF 70 million are involved” (without saying precisely to whom those assets might belong).
The Swiss authorities have now confirmed in a letter of 1 March 2017 that there are no frozen personal bank accounts or other assets in Switzerland held in the name of President Yanukovuch’s son Oleksandr Yanukovych, apart from Mako Trading SA and its assets, which is controlled by Oleksandr Yanukovych. The other asset freezes imposed by Switzerland concern other persons listed in the Appendix to the Ordinance on the Freezing of Assets in Connection with Ukraine.
Oleksandr Yanukovych has always contended that he has no personal bank accounts or assets in Switzerland other than his company Mako Trading SA, which has an account in Switzerland that is transparent and audited, holding around CHF 1 million.
Enquiries to: Joseph Hage Aaronson LLP, Tel.: +44 (0)20 7851 8888