The Swiss Federal Council announced that it will end the freeze on the remaining $436m of frozen Egyptian assets, in a press statement on Wednesday. However, they extended the freeze on both Tunisian and Ukrainian assets.
The Swiss Federal Council had frozen both Egyptian and Tunisian assets in the wake of the 2011 Arab spring uprisings and renewed them in 2016. In November, the Egyptian Public Prosecutor’s Office announced that Switzerland has ended the judicial cooperation with Egypt to retrieve assets, funds, and money syphoned by ousted president Hosny Mubarak and figures of his regime in the country.
According to the statement, …read more
Source: Daily News Egypt
