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Switzerland to freeze Yanukovych’s assets

27.02.14

Swizerland’s Federal Council has decided to freeze money held in Swiss bank accounts by Viktor Yanukovych and people linked with him.  André Simonazzi, spokesperson for the Federal Council, the country’s Cabinet of Ministers, says that an order to this effect is to be issued on Friday. 

It is not clear how much money is involved, nor what is meant by Yanukovych’s “entourage”, however the spokesperson said that banks would need to be careful when handling assets held by Ukrainians and communicate any suspicions regarding the accounts.

According to the Wall Street Journal, one of the many media publications reporting the news, the freeze is initially for three years, though can be extended. 

Ukrainians have finally had a chance to see - and assess the money spent on - the sumptuous estates of Yanukovych, his close associate and prosecutor general, Viktor Pshonka, and others.  Taste is distinctingly lacking, however the money they lavish upon themselves given the relative poverty of the country and its economic ills, has made a deep impression. 

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