Enlarge image
Demonstration in Bern: "No money for Russian oligarchs"
Photo:
MARCEL BIERI / EPO
Switzerland has always enjoyed its role as a neutral mediator and apparently does not want to deviate from it, even in view of the recent escalation of war by Russia.
For example, no accounts of Russian officials should be frozen, even if they have been sanctioned in the EU.
The Swiss government decided on Thursday.
Federal President and Foreign Minister Ignazio Cassis referred to Switzerland's neutrality in the statement.
However, his country will tighten up measures so that Switzerland cannot be used as a platform for circumventing the sanctions imposed by the EU, he said - and at the same time condemned the Russian invasion of Ukraine "strongly".
Officials then explained that Russian citizens with accounts in Switzerland whose funds are frozen in the EU are free to dispose of and withdraw their money in Switzerland.
It is only checked whether guidelines are tightened so that affected persons cannot transfer new funds to their Swiss accounts.
Switzerland important for Russian commodity trade
Greens and Social Democrats in Switzerland had previously brought into play that their country could also go along with the sanctions imposed by the West.
According to "20 minutes", Green Party Secretary-General Florian Irminger demanded a few days ago: "It would be particularly effective to freeze the assets of people close to Putin." After all, more than 50 percent of Russia's financial assets are invested abroad.
In order to restrict access to this, at least in certain areas, the EU and the governments in Great Britain and the USA have announced far-reaching sanctions.
Washington recently demanded that US banks close any Sberbank accounts that had previously allowed transactions in US dollars within 30 days.
The Russian bank is largely state-owned and is considered the largest creditor of the Russian economy.
The EU heads of state and government, in turn, are planning financial sanctions against Moscow that will target 70 percent of the Russian banking market.
The Swiss government is apparently unimpressed by this.
According to the Foreign Ministry, neutrality means, among other things, that Switzerland does not take part in wars and treats all warring parties equally with regard to the export of armaments.
However, the reluctance of the Confederates could also be related to the fact that numerous commodity groups that do business with Russian oil and gas are based in the country.
The public news platform Swissinfo, citing Moscow's embassy in Switzerland, reported that 80 percent of Russia's commodity trade took place via Switzerland.
Switzerland is also by far the largest recipient of Russian private capital - five to ten billion dollars flow here every year, according to the report, citing the Russian central bank.
Central Bank of Ukraine bans payments to Russia
Especially in view of this, it is questionable whether Switzerland will succeed in the balancing act on the one hand to continue to allow Russian business - and on the other hand to prevent bypassing the business sanctioned abroad.
According to the broadcaster SRF, an expert from the NGO Public Eye pointed out that even in the past few years, when the sanctions for the occupation of Crimea were in effect, business between the commodity traders and Russia had continued to flourish.
In any case, the Russian side itself is not making any moves to restrict international financial transactions because of the war or sanctions.
Rather, the central bank has guaranteed the banks affected by western sanctions all their transactions in rubles as well as in foreign currencies.
All banking transactions with customers in rubles would continue as usual.
The payment of credit balances in foreign currencies is also guaranteed.
The Ukrainian central bank, on the other hand, has banned payments to institutions in Russia and Belarus.
Kiev has banned transactions with the currencies of both countries.
apr/dpa