Switzerland defends Russian sanctions record

Seco chief Helene Budliger-Artieda says Switzerland is doing everything it can to support sanctions against Russia. © Keystone / Christian Beutler

Switzerland makes an “extraordinary effort” to enforce sanctions against Russian oligarchs and entities, according to the official in charge of coordinating measures.

The Alpine state has been criticised for dragging its heels on freezing Russian assets despite adopting ten European Union sanctions packages.

+ Could Switzerland permanently seize Russian assets?

The United States ambassador to Bern believes the CHF7.5 billion ($8.3 billion) frozen so far could be raised to CHF50-100 billion.

But Helene Budliger-Artieda, head of the State Secretariat for Economic Affairs (Seco), argues that Switzerland’s contribution compares well with the €21.5 billion (CHF21.2 billion) frozen across the EU.

Speaking to the Neue Zürcher Zeitung newspaper, Budliger-Artieda said that no country, including the US, has provided Switzerland with detailed information that would warrant further asset freezing.

“Why should Switzerland carry out careless work?” she said in the interview on Monday.

Budliger-Artieda also defended Switzerland’s record of enforcing sanctions, which include prohibitions on the export of various goods.

It emerged at the weekend that only two out of 126 suspect Russian shipments reported by Swiss customs have incurred penalties. But Budliger-Artieda insisted that Seco diligently investigates reports of sanctions-busting.

She added that Seco must carefully stick to its mandate given the variety of views on sanctions in parliament.  

“Switzerland is divided on fundamental issues such as the implementation of sanctions, neutrality, sustainability and the relationship with the EU,” Budliger-Artieda said.