Report: Swiss banks block 1 bln Sfr accounts of Vekselberg

MOSCOW, Jun 5 (PRIME) -- Swiss banks have blocked 1 billion Swiss francs worth of personal accounts of Russian businessman Viktor Vekselberg, co-owner of multi-industry holding Renova Group, on concerns over possible U.S. sanctions, Forbes reported late on Monday citing Schweiz am Wochenende newspaper.

Renova’s lawyers are already preparing suits against the banks and their staff, but experts expect little success, Forbes said quoting a source with Renova.

The source also said that the money was blocked not only by public banks like UBS and Credit Suisse, but also by private banks, including Julius Baer.

According to Schweiz am Wochenende, all accounts were opened in compliance with the local legislation. The newspaper’s sources said that both civil and criminal suits may be filed against the banks’ personnel responsible for the move.

Besides Vekselberg’s private accounts, the banks blocked the businessman’s access to his stakes in Swiss Sulzer, OC Oerlikon and Schmolz + Bickenbach.

On April 6, the U.S. imposed sanctions against 38 Russian tycoons, officials and companies including Vekselberg.

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