Refused to join task force
The Swiss don’t want to look for oligarch money
April 17, 2024, 1:19 p.m
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Western states are sanctioning numerous Russian oligarchs after the invasion of Ukraine. They are trying to keep their assets safe. An international task force is trying to track down the money. But Switzerland does not want to take part, as Parliament is now deciding.
The parliament in Bern rejects Switzerland’s joining the international task force to track down Russian oligarch funds (Repo). The decision was made in the National Council with 101 votes to 80. The government is also against it. The push for membership came from the ranks of the Greens.
The conservative parties believe the step is incompatible with Swiss neutrality. Switzerland offers its services, among other things, between countries that do not have diplomatic relations, such as Iran and the USA. These countries can exchange messages via the Swiss embassy. Such “good offices” could become more difficult through participation in such a task force, said Free Democrat MP Hans-Peter Portmann: “We don’t want to be politically involved in this committee.”
A year ago, the Swiss government turned down an invitation from the G7 countries to join the task force. Countries such as the USA, Canada, Germany, France, Italy, Japan and Australia work together. Their goal is to track down Russian oligarch funds and ensure that economic sanctions are not evaded.
Almost eight billion francs of Russian assets have been blocked in Switzerland since the Russian attack on Ukraine began a good two years ago. Because Switzerland is an international banking hub, other governments suspect that there is significantly more Russian money there.