war in Ukraine
Switzerland accepts EU sanctions against Russia
Swiss President Ignazio Cassis: “Playing into the hands of an aggressor is not neutral.” Photo: Peter Schneider/KEYSTONE/dpa
© dpa-infocom GmbH
Switzerland is now joining the EU sanctions against Russia. I took a while. This should not only have something to do with neutrality, but also with the financial center, which is important for Russians.
After a long hesitation, Switzerland is now accepting the EU sanctions against Russia. The government in Bern decided on Monday. In addition, the country imposed entry bans on people close to Russian President Vladimir Putin.
Last week, Switzerland refrained from imposing sanctions, citing its neutrality. At first she just wanted to make sure that the sanctions via Switzerland would not be circumvented.
The assets of all companies and individuals that are on European sanctions lists are blocked with immediate effect, as President Ignazio Cassis said. The financial sanctions against Putin, Prime Minister Mikhail Mishustin and Foreign Minister Sergey Lavrov would also be taken over.
The government did not take the decision lightly because it was a one-off step for Switzerland on this scale. “We couldn’t take that lightly from the point of view of neutrality,” said Cassis. But: “Playing into the hands of an aggressor is not neutral,” he said.
Switzerland had already condemned the Russian invasion in the strongest possible terms and promised Ukraine full support. It was said that 25 tons of relief supplies would be brought to Ukraine immediately.
«Neutrality serves as a fig leaf»
In the EU, Switzerland’s course has caused great frustration in recent weeks, said an EU diplomat in Brussels. It is incomprehensible how one can invoke one’s neutrality when it comes to prosecuting breaches of international law. The Swiss media also showed a lack of understanding. “Neutrality serves as a fig leaf,” criticized the “Neue Zürcher Zeitung”.
“I wholeheartedly welcome that Switzerland will adopt the EU sanctions against Putin and his supporters of the invasion of Ukraine and freeze their assets,” wrote EU chief diplomat Josep Borrell on Twitter after the decision. We stand united against the attack on a peaceful country.
Switzerland is an 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 Gennady Timchenko, a close friend of Putin, live there.