Switzerland considers participation in task force on oligarch funds

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The Federal Ministry of Economy, Education and Research (EAER) confirmed a report in the online edition of the “Handelzeitung”. “The Federal Council is aware of a letter signed by diplomatic representatives from France, Italy, Germany, the United States, Canada, Japan, the United Kingdom and the United States in the case of the ‘Russian Elites, Proxies and Oligarchs “Task Force (storage)”.

In it, the G7 ambassadors called on the Swiss state government to cooperate more in the search for oligarch funds. The Bundesrat said it had not yet discussed the letter and forwarded it to the leading EAER and the State Secretariat for Economic Affairs (Seco), which is responsible for sanctions.

“Whether and how Switzerland can be involved in the repo task force is currently being investigated by the involved federal agencies,” an EAER representative told Handelzeitung. There were already several contacts.

Scott Miller, the US ambassador to Switzerland, had already criticized the slow cooperation with Switzerland on the Russian sanctions in the Neue Zürcher Zeitung in mid-March. He explained that Seco believes it is doing enough.

In addition to the currently frozen CHF 7.75 billion in Russian assets, Switzerland could block CHF 50 billion to CHF 100 billion, the US ambassador in Bern said. In doing so, Miller pushed for participation in the repo task force. Countries not involved in seizing Russian funds would come under pressure.

(SDA)

Source:Blick