Algeria to recover $110M in looted assets
Algeria moves to reclaim over $110 million from Switzerland after judicial cooperation, while France remains unresponsive to requests
ALGIERS, Algeria (MNTV) — Algeria is set to recover more than $110 million in looted and frozen assets from Switzerland following a series of judicial procedures, officials said.
Foreign Minister Ahmed Attaf informed a Council of Ministers meeting that authorities had issued 33 international judicial commissions to Swiss counterparts as part of efforts to reclaim misappropriated funds. Of these, 20 requests have been examined and approved, paving the way for asset recovery.
According to an official statement, four cases involving frozen assets have already been resolved, enabling the North African country to secure the return of funds exceeding $110 million.
The development marks a significant step in Algeria’s broader campaign to repatriate wealth siphoned abroad.
President Abdelmadjid Tebboune expressed appreciation to both Switzerland and Spain for their cooperation in facilitating the recovery process.
However, authorities highlighted a lack of progress with France, noting that 61 similar judicial requests sent to Paris have yet to receive any response, raising concerns over uneven international collaboration in asset recovery efforts.
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