Actually, Switzerland did not want to impose sanctions with reference to neutrality. This attitude appears to be crumbling as the conflict progresses.
Bern – The Swiss Federal President Ignazio Cassis surprisingly brought up a possible freezing of Russian capital.
It is “very likely” that the Federal Council will decide at its extraordinary session to freeze Russian assets in Switzerland, Cassis said after a report by the Swiss news agency SDA on French-speaking Switzerland television. The possibility of sanctioning Russian President Vladimir Putin must also be on the table. However, a final decision to freeze the capital will definitely take Swiss neutrality into account.
Shortly before, Cassis had said, citing his country’s neutrality, that Switzerland would not impose sanctions despite the Russian invasion of Ukraine. Switzerland is a particularly important financial center for Russians. According to figures from the National Bank, Russian assets worth around CHF 15 billion (EUR 14.5 billion) were held in Swiss accounts last year. Billions more are to flow into Switzerland every year. Oligarchs like Putin’s friend Gennady Timchenko live there. dpa
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