Topline
Switzerland has seized a luxury mountain home believed to belong to Russian billionaire Pyotr Aven, who’s said to be a close confidant of Russian President Vladimir Putin, according to multiple reports.
Pyotr Aven, then president of Alfa-Bank, attends the St. Petersburg International Economic Forum on ... [+]
Key Facts
Aven is known for having led the Alfa Banking Group, which is Russia’s largest private sector bank, and Forbes estimates his net worth at $4.4 billion.
He resigned from the bank’s board of directors earlier this month following European Union sanctions that largely cut him off from the global financial system, which he derided as “groundless and unfair.”
Aven’s property is reportedly a three-bedroom apartment located at a golf course surrounded by snowy peaks in the Bernese Oberland in the northern Alps.
Surprising Fact
Aven has not yet been personally sanctioned by the United States.
Key Background
The actions from Switzerland mark the latest Swiss penalty against Russia and its oligarchs. The country notably decided to freeze assets late last month of Russians named in EU sanctions, though officials claim the moves do not violate its tradition of neutrality. Still, Ukrainian President Volodymyr Zelensky on Saturday urged Switzerland to do more to penalize wealthy Russians.
Crucial Quote
“Your banks keep the money of those who unleashed this war,” Zelensky said in an address to the Swiss parliament.
Further Reading
Russian billionaire Fridman to contest 'groundless' EU sanctions (Reuters)
Switzerland says it will freeze Russian assets, setting aside a tradition of neutrality. (New York Times)
