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Freeze Egyptian assets in millions of dollars
21:20 - 20/12/2017
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The Swiss government announced on Wednesday it would cancel a freeze on Egyptian assets of 430 million Swiss francs ($ 436 million), which remained frozen following the 2011 uprising, but extended a freeze on Tunisian and Ukrainian assets.
The government said: "With the termination of the joint legal assistance procedures between Switzerland and Egypt, the Federal Council decided to cancel the freezing of assets linked to this country with immediate effect," according to Reuters.
But the money will not be disbursed as the government said the money would remain in check until the Swiss federal prosecutor decided whether it was legal.
The government also decided to continue freezing 56 million francs linked to ousted Tunisian President Zine El Abidine Ben Ali and his entourage and 70 million francs associated with former Ukrainian President Viktor Yanukovich and his entourage for another year.
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