Switzerland says it will freeze Russian assets, setting aside a tradition of neutrality.

[BumRushDaShow]

Source: New York Times

GENEVA — Switzerland, a favorite destination for Russian oligarchs and their money, announced on Monday that it would freeze Russian financial assets in the country, setting aside a deeply rooted tradition of neutrality to join the European Union and a growing number of nations seeking to penalize Russia for the invasion of Ukraine.

After a meeting with the Swiss Federal Council, Switzerland’s president, Ignazio Cassis, said that the country would immediately freeze the assets of Russia’s president, Vladimir V. Putin, Prime Minister Mikhail V. Mishustin and Foreign Minister Sergey V. Lavrov, as well as all 367 individuals sanctioned last week by the European Union. Switzerland said it was departing from its usual policy of neutrality because of “the unprecedented military attack by Russia on a sovereign European state,” but expressed a willingness to help mediate in the conflict.

It also joined European neighbors in closing its airspace to Russian aircraft, except for humanitarian or diplomatic purposes. But said it would evaluate whether to join in subsequent E.U. sanctions on a case-by-case basis. Mr. Lavrov, who was scheduled to be in Geneva on Tuesday to address the United Nations Human Rights Council, will no longer make the trip because of the flight ban, Russia’s mission to the United Nations in Geneva said on Twitter.

Swiss national bank data showed that Russian companies and individuals held assets worth more than $11 billion in Swiss banks in 2020. As a hub for the global commodities trade, Switzerland also hosts numerous companies that trade Russian oil and other commodities. The decision came amid mounting condemnation of Russia’s invasion of Ukraine, which saw thousands of antiwar protesters march in Bern, Switzerland’s capital, over the weekend. Demonstrators chanted for an end to “Putin’s war” and criticized the government’s initially cautious response to the crisis.

Read more: https://www.nytimes.com/2022/02/28/world/europe/switzerland-russian-assets-freeze.html

[mopinko]

1. this is a bfd.

[BumRushDaShow]

2. It sure as hell is

especially from them... but then they have basically been exposed now their various banks including Credit Suisse, have been under constant criminal charges, fines, call-outs for laundering, and surveillance.

[IronLionZion]

5. Yes, Russia has tons of money in Switzerland

so this could cause Oligarchs to apply pressure to Putin

[AntiFascist]

9. I agree! Putin managed to end 100s of years of neutrality for Switzerland. n/t

[thesquanderer]

10. How ironic if Putin's fear-of-NATO foreign policy actually prompted Switzerland to join NATO! nt

[AntiFascist]

11. This would strengthen NATO since they have a significant military n/t

[AngryOldDem]

3. Congratulations, Vlad.

You’ve managed to provoke a historically neutral country into taking sides, trash your economy, and make your country a world pariah — all in the space of five days.

[greatauntoftriplets]

4. Never thought I'd see this happen.

Good for the Swiss.

[BlueWavePsych]

6. The world has taken a side (almost)

[SheltieLover]

7. Excellent! 👏👏👏👏

[LetMyPeopleVote]

8. Putin lost Switzerland

[AntiFascist]

12. Switzerland has a long history of fighting for independence and democracy...

they even took on Julius Caesar...not so much successfully, but at least their "confederation" was left to self-rule.

[LittleGirl]

13. I am thrilled!

As a resident, this is bold and not neutral! Thank you Switzerland!
How bad a$$ of you!
Yes!

[FakeNoose]

14. I'll bet a lot of that is Pootie's secret retirement fund too

Thank you Switzerland!