The United States is very pleased with the efforts Switzerland has made so far to find the funds of Russians sanctioned after the Russian attack on Ukraine, Scott Miller said in an interviewExternal link with the newspaper Le Temps published on Wednesday.
“We respect Switzerland’s role in the sanctions,” he said. “It is, after all, a sanctions package of a size and scope that, frankly, the world has never seen before.”
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Is Switzerland doing enough to freeze Russian assets?
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Untangling the main areas of contention surrounding Swiss efforts to track down and freeze the assets of sanctioned Russians.
Switzerland had blocked Russian funds of CHF6.3 billion ($6.5 billion) by May 12, according to Erwin Bollinger, head of the Bilateral Economic Relations Division at the State Secretariat for Economic Affairs (SECO). At the beginning of April this amount had stood at CHF7.5 billion, but CHF3.4 billion, which had been frozen too quickly, had been returned. Another CHF2.2 billion were found between these two dates.
‘Lack of zeal’
Earlier in May, Bill Browder, an expert of the Helsinki Committee of the US Congress and the US government, had accused Switzerland of showing a lack of zeal in the hunt for Russian assets. He called on the US to rethink the framework for its cooperation with Bern.
Miller expressed reassurance about this in the Le Temps interview. “The Helsinki Commission is an independent commission that has no constitutional powers and is not a government agency.” The people who spoke there do not represent the official position of the government of US President Joe Biden, he said.
In an interviewExternal link with the Neue Zürcher Zeitung at the beginning of April, Miller called on Swiss banks to search for Russian oligarch money more actively. Banks that did not cooperate would have to expect negative consequences, he said.
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Ambassadors urge tougher Swiss stance against Russia
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The Ukrainian and United States ambassadors to Bern have called on Switzerland to redouble its efforts to enforce sanctions against Russia.
Switzerland to introduce flight passenger database
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Switzerland plans to introduce a flight passenger database to collect and process personal data in a bid to combat terrorism and serious crime.
Government plans to invest over CHF16bn in Swiss rail network
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The federal government intends to invest CHF16.4 billion ($18.1 billion) in railway infrastructure between 2025 and 2028, CHF2 billion more than for the current period.
Swiss to vote on pension reform and biodiversity in September
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Swiss citizens will vote on occupational pension schemes and a biodiversity initiative on September 22, the Federal Council announced on Wednesday.
Ukraine peace talks: 50 countries have confirmed participation
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To date, 50 countries out 160 invited delegations have confirmed they will attend the Ukraine peace conference, held in central Switzerland in mid-June, according to Swiss public radio, RTS.
Federer-backed On boosts forecast after sneaker demand rises
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Swiss footwear company On Holding AG posted strong first-quarter revenue, boosted by demand for its running shoes and new line of training apparel.
Michael Schumacher’s watches fetch CHF4 million at Swiss auction
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Watches belonging to Formula 1 great Michael Schumacher sold for around CHF4 million ($4.41 million) at auction house Christie's in Geneva on Tuesday.
Macron will attend Swiss summit on Ukraine, says Zelensky
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French President Emmanuel Macron will attend the peace conference on Ukraine at the Swiss Bürgenstock resort next month, according to Volodymyr Zelensky.
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US commission accuses Switzerland of hiding Russian assets
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Swiss anti-corruption expert testifies to a US government commission that Swiss lawyers help Russian oligarchs hide funds.
Biden names Scott Miller as US ambassador to Switzerland
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US President Joe Biden has nominated LGBTQ rights activist and philanthropist Scott Miller to serve as ambassador to Switzerland and Liechtenstein.
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