Switzerland Freezes Syrian Assets: $32 Million Affected

Switzerland Freezes Syrian Assets

ZURICH, July 3 (Reuters) - Switzerland has blocked Syrian assets worth 27 million Swiss francs ($32 million), Swiss news agency SDA reported on Sunday, citing a Swiss newspaper report that the Swiss Secretariat for Economics (SECO) confirmed.

The news agency said SECO declined to comment on whether the assets of President Bashar al-Assad had been frozen. SECO could not immediately be reached by Reuters.

In May, Switzerland said it would impose travel bans on 13 Syrian officials and freeze any of their assets held in Swiss banks in response to their government's violent crackdown against pro-reform protesters.

Switzerland has in recent years seized the assets of numerous deposed leaders and agreed in 2009 to soften strict bank secrecy to help other countries catch tax cheats.

Switzerland has blocked assets of former Tunisian and Egyptian leaders and their entourages as well as those of Libyan leader Muammar Gaddafi and close associates.

(Reporting by Katie Reid; Editing by Jon Boyle) ($1 = 0.840 Swiss Francs)

Copyright 2011 Thomson Reuters. Click for Restrictions.

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