Swiss govt. to keep Egyptian, Tunisian assets frozen for 3 more yearsDecember 18, 2013 - 17:36 AMT PanARMENIAN.Net - The Swiss government said Wednesday, Dec 18, it has decided to keep 760 million Swiss francs ($858 million) in Egyptian and Tunisian assets frozen for three more years, according to the Associated Press. Switzerland's seven-member Federal Council, which includes the president and other ministers, said the decision applies to the 700 million francs held by former President Hosni Mubarak and his aides and another 60 million francs that were linked to Tunisia's former autocrat Zine El Abidine Ben Ali. The Council said in a statement that the "aim of this extension is to provide more time for criminal investigations in Tunisia and Egypt into the origin of these assets." And by granting the extension, the Council said, the Swiss government "is thereby taking account of the political transition in the two countries." It added that over the past three years there has been close cooperation between Swiss authorities and their counterparts in Tunisia and Egypt that has resulted in "significant progress" toward determining the origin of the assets so that the money can be returned eventually. Under Swiss laws, other nations are generally required to provide information about possible criminal wrongdoing to start unblocking any frozen assets. The money in such cases is usually locked up for three years, and during that time governments must meet Swiss requirements such as providing information of any financial crimes that could be prosecuted on Swiss soil. Related links: Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |