Swiss find no evidence of sanctions busting in Yugoslav gold deals
The authorities say a preliminary inquiry has revealed no sign of illegal activity in gold transactions between Yugoslavia and Switzerland. But investigations are continuing into gold believed to have been sent to Switzerland by the former Yugoslav ruler, Slobodan Milosevic.
The initial findings of the Swiss inquiry appear to show that Milosevic and his associates did not break any rules when transferring gold to Switzerland.
A senior official in the economics ministry, Othmar Wyss, said there was no indication that the embargo imposed by the international community on Yugoslavia in June 1999, and lifted since, had been broken.
Wyss said Switzerland was waiting for further information, and a request for legal assistance from the new government in Belgrade, before it pressed ahead with the investigation.
The Swiss are also expecting to hear from the authorities in Cyprus, because part of the gold, which eventually wound up in Switzerland, apparently went through channels there.
Last March, the Swiss authorities said they had seized a total of about 270 kilogrammes of gold, which were imported from Yugoslavia, despite international trade sanctions on Belgrade. Wyss said investigations were underway to find out if the proceeds from the gold sale went to a state company in Yugoslavia.
The new government in Yugoslavia believes Milosevic and his associates are directly involved in the gold dealings, possibly via an intermediary firm in Cyprus.
The former president, who’s been detained in Belgrade since the beginning of April, is accused of siphoning off up to SFr6.9 billion ($4 billion). Some of that money has allegedly been placed in Switzerland.
Last week, the Yugoslav central bank criticised Switzerland for dragging its feet over an investigation into the Milosevic funds. They said the Swiss had not been forthcoming with information.
However, Bern says it is willing to cooperate with Yugoslavia provided Belgrade files a formal request for legal assistance. A Yugoslav delegation has been invited to visit Switzerland, and is expected to arrive in the coming weeks.
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