Yanukovych's assets in Switzerland to remain frozen for another three years

The assets of former president of Ukraine Viktor Yanukovych and his entourage will remain frozen in Switzerland for another three years.

“Seven years ago, the Swiss Federal Council decided to freeze all assets of Viktor Yanukovych and his entourage in Switzerland. In taking this measure, the Swiss Government wished to avoid any risk of misappropriation of Ukrainian state assets,” the Embassy of Switzerland in Ukraine posted on Twitter.

The Embassy noted that since then, the Swiss authorities had been closely cooperating with the Ukrainian counterparts in order to complete the process of restitution of these assets to the Ukrainian people following court rulings on their illicit origin.

“By Switzerland’s law, the maximum duration of such a freeze is limited to 10 years,” the Embassy reminded.

As reported, on December 13, the Swiss Federal Council extended for another year preventive freezing of the assets of former president Yanukovych and his entourage.

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