Switzerland greenlights confiscation of Yanukovych assets
Viktor Yanukovych (Photo:Tatyana Makeyeva/Reuters)
As a step to support Ukraine, the Swiss government has allowed to confiscate frozen assets of fugitive former Ukrainian president Viktor Yanukovych and his associates, in the amount of more than 130 million Swiss francs ($140.5 million), Swiss Federal Council said in a press release on Feb. 15.
The Federal Council has instructed the Federal Department of Finance (FDF) to initiate a series of forfeiture proceedings for the Federal Administrative Court (FAC). Reports state that the assets will remain frozen until the final decision by the justice system. Any property that is permanently confiscated will be returned to the Ukrainian people, in accordance with international agreements.
The message adds that the procedure for confiscation of assets is applied only in “exceptional cases.” The law authorizes Swiss law enforcement to confiscate the assets of politically important people, under strict conditions.
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