Swiss authorities freeze $1.5 Billion in assets linked to Putin’s oligarch Suleyman Kerimov
The Swiss State Secretariat for Economic Affairs (SECO) has frozen assets worth 1.3 billion Swiss francs (approximately $1.5 billion) associated with Russian billionaire and senator Suleyman Kerimov, reports Le Temps.
The preliminary asset freeze was imposed under allegations of money laundering and circumventing sanctions. The investigation kicked off last November following the U.S. sanctions against Kerimov's family members, including his wife, two daughters, son, and 28 of their companies. As part of the investigation, authorities conducted searches at eight residences in the cantons of Lucerne, Zug, and Nidwalden, involving four suspects, though no arrests were made. Swiss prosecutors have disclosed no further details about the ongoing probe except confirming its connection to Kerimov.
Suleyman Kerimov, a billionaire whose wealth is estimated by Forbes at $10.7 billion, has served in the Russian State Duma and represents the Republic of Dagestan in the Federation Council since 2008. The U.S. placed him under sanctions in 2018, which were expanded by the EU in 2022 following Russia’s full-scale invasion of Ukraine. The EU alleged that Kerimov is a close associate of cellist Sergei Roldugin, reputed to be a keeper of Putin’s wealth, and listed him among oligarchs close to the Russian president. During the same period, the UK also sanctioned him.
In April 2022, the U.S. seized Kerimov’s superyacht "Amadea." The vessel, valued at over $300 million, was confiscated in Fiji and then transported to California as part of the sanctions on the billionaire. In February 2024, the U.S. Justice Department filed a request with the Manhattan District Court for permission to sell the yacht due to the high costs of its upkeep.