Switzerland, which isn't a European Union member but has close relations with the 27-member bloc, applied EU sanctions against Russia following Moscow's invasion of Ukraine in February.Among the measures, it has been forbidden since shortly after the war began to accept deposits of more than 100,000 francs from Russian citizens or entities — companies or organizations.Existing deposits above that level had to be reported to Switzerland's State Secretariat for Economic Affairs by early June.People who are citizens of Switzerland or a country in the European Economic Area, or who hold a temporary or permanent residence permit from one of those countries, are exempt both from the ban on new deposits and the reporting requirement.The secretariat stressed that “the level of reported deposits ... can therefore not be equated with the total amount of funds of Russian origin held in Switzerland.”The total amount frozen in Switzerland under sanctions stood at 7.5 billion francs in financial assets and 15 properties as of Nov. 25."