Russians have up to $213 billion stashed offshore in Swiss banks

FILE PHOTO: Russian rouble banknotes are seen in this illustration picture taken in Moscow, September 30, 2014. REUTERS/Maxim Zmeyev/File Photo

ZURICH (Reuters) - Switzerland's secretive banks hold up to $213 billion of Russian wealth, the country's financial industry association estimates, as sanctions on Russia give a rare glimpse inside Swiss vaults.

The Swiss Bankers Association (SBA) estimated that the banks hold between 150 billion and 200 billion Swiss francs ($213 billion) of Russian client money in offshore accounts.