Swiss Confederation President Ignazio Cassis announced on Monday that Switzerland would resume “all” economic sanctions imposed by the European Union on Russia, including those against President Vladimir Putin, and an asset freeze.
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“This is a wide-ranging measure on the part of Switzerland,” the president said during a press briefing, adding that the Federal Council “is taking this step with conviction and in a measured and unambiguous manner.”
Uli Maurer, Finance Minister, confirmed that the assets of the people on the EU blacklist were “frozen with immediate effect”.
For her part, Justice Minister Karen Keeler-Sutter noted that 5 Russian or Ukrainian oligarchs “very close to Vladimir Putin” and who have strong economic ties with Switzerland were “immediately banned from entering Switzerland”.
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She added that these people – whose names Switzerland does not want to be revealed – do not have a residence permit in Switzerland, but they have “important economic ties, particularly in finance and raw materials trade”.
The Swiss authorities, seemingly reluctant to apply sanctions commensurate with the violation of the Russian invasion of Ukraine, have been under intense pressure for several days to join the European Union and the United States.
Most political parties with the exception of the far-right UDC – to which Mr. Maurer belongs – demanded a stronger gesture.
On Saturday, between 10,000 and 20,000 people, who demonstrated in support of the Ukrainian people, loudly demanded tougher penalties.