Credit Suisse freezes 5 billion Swiss francs of Russian money due to U.S. sanctions

FILE PHOTO: Switzerland's national flags fly beside the logo of Swiss bank Credit Suisse in Zurich, Switzerland April 24, 2017. REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) - One of Switzerland's largest banks, Credit Suisse, has frozen roughly 5 billion Swiss francs (£3.9 billion) of money linked to Russia to avoid falling foul of U.S. sanctions, according to its accounts, further increasing pressure on Moscow.

The move by Credit Suisse, which owned aircraft surrendered by Russian tycoon Oleg Deripaska and had lent money to Russian oligarch Viktor Vekselberg before the sanctions, underscores a widespread fear among banks of reprisals from Washington for working with targeted Russian individuals and entities.