No frozen personal bank accounts or other assets in Switzerland in the name of Viktor Yanukovych

March 3, 2017

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Swiss Authorities: There are no frozen personal bank accounts or other personal assets in Switzerland in the name of Viktor 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 bank accounts or other assets in Switzerland held in the name of President Yanukovych that they have frozen. The asset freezes imposed by Switzerland concern other persons listed in the Appendix to the Ordinance on the Freezing of Assets in Connection with Ukraine.

President Yanukovych has always contended that he has no bank accounts or other assets in Switzerland, or in any country other than Ukraine.
Enquiries to: Joseph Hage Aaronson LLP, Tel.: +44 (0)20 7851 8888