Chasing money from oligarchs: Switzerland responds to accusations from abroad

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It is known all over the world that you can safely invest your wealth in Swiss accounts. The Russian oligarchs who have parked their money in this country know it and did it. Since the brutal attack on Ukraine, some of them have been subject to sanctions.

The G7 states accuse Switzerland of freezing Russian assets of 7.5 billion francs too low.

Research by the Tamedia newspapers now shows how the hard letter from the G-7 and EU countries to the Federal Council about sanctioned Russian assets came about in April. Insiders tell how they experienced Switzerland until recently: passive and uninterested in tracking down hidden Russian fortunes and exchanging information about them with Western partner countries.

So says Tom Keatinge, director of the Center for Financial Crime and Security Studies in London and an internationally renowned expert on sanctions against the Tamedia magazines: currently going on. taking place.” You have to go after all the empty companies. Just leaving it to the banks is not an option.

Seco responds to criticism

The State Secretariat of Economic Affairs (Seco), which is responsible for the sanctions, defends itself against the accusations. They check “current” reports that come from both the Netherlands and abroad. Seco works closely with partner countries in the context of legal and administrative assistance.

However, this exchange seems to have really gained momentum only since the letter. According to Seco, there were at least two meetings with senior representatives of the G7 countries and the EU in April.

According to Seco, director Helene Budliger Artieda, 58, has met with representatives of the US Treasury Department on April 18 since the letter was written. On April 28, Seco Ambassador Erwin Bollinger attended a plenary session of the EU Task Force Freeze and Seize with a delegation. And in May, the Federal Council approved five additional full-time positions to implement Russian sanctions. (she)

Source:Blick