Swiss banks disclose how much Russian clients’ money they hold

The Swiss Bankers Association revealed there’s around $160-$213bn of Russian clients’ money held in Swiss accounts.

Swiss banks are usually prized for their anonymity and safety, the rare estimation of holdings by Russian clients being made amid sanctions slapped on Moscow.

Setting aside the tradition of neutrality, President Ignazio Cassis announced that Switzerland would freeze the assets of Russian President Vladimir Putin and 370 politicians and businessmen sanctioned by the EU.