In breaking news from Geneva, Switzerland, their president, Ignazio Cassis, announced to the United Nations Human Rights Council on Monday that his country would freeze Russian financial assets. Switzerland has joined the European Union (E.U.) and an increasing number of other nations in their actions to penalize Russia for the invasion of Ukraine. With this announcement, Switzerland sets aside its deeply rooted tradition of maintaining neutrality.
In unity with the Swiss Federal Council, President Cassis said Switzerland would immediately freeze the assets of Russia’s President Putin, Prime Minister Mishustin and Foreign Minister Lavrov. They will also freeze all 367 individuals sanctioned last week by the E.U.
As of now, the Swiss government has banned Russians from traveling. They have also banned Swiss banks from accepting new Russian money and Swiss financial “intermediaries” from starting new business relationships with 363 Russian people and four Russian companies.
According to The New York Times, Switzerland decided to break away from tradition due to “the unprecedented military attack by Russia on a sovereign European state.” President Cassis said Russia’s attack on Ukraine was a flagrant violation of international law in which there has been “no provocation which could have justified such an intervention.” Switzerland additionally expressed a willingness to support the mediation of this conflict, one that is now folding into war. It has joined neighboring E.U. nations in banning Russian aircraft from their airspace, excluding flights for humanitarian or diplomatic purposes. It will consider joining further E.U. sanctions on Russia on a “case-by-case basis.”
This news broke the day before Russian Foreign Minister, Sergey V. Lavrov, was scheduled to arrive in Geneva to address the United Nations Human Rights Council. Mr. Lavrov will no longer be going due to the flight ban.
This news also comes in wake of the strengthening national condemnation of the Russian invasion of Ukraine. Switzerland’s capital, Bern, experienced thousands of antiwar protests this past weekend. Before President Cassis’s decision, the Swiss populous criticized the government’s initial caution. To justify this, Cassis explained he worried that the Swiss credibility as a neutral diplomatic intermediary would suffer if they immediately followed the E.U. Switzerland’s government now takes a firmer stance against Russia. A nation that has dedicated centuries to neutrality has made a historic move to take a side.
According to AP News, Switzerland is used as a haven for the assets of Russia’s richest and most powerful. It is the biggest recipient of transactions by Russian private individuals. AP cites a report made by the Swiss Embassy in Moscow that claims in 2020, the net transfers of Russian taxpayers to Switzerland totaled $2.5 billion. The New York Times states that in the same year, Russian companies and individuals held assets worth more than $11 billion in Swiss banks. The nation hosts a plethora of companies that trade Russian commodities, especially oil.
Switzerland resides as a non-E.U. nation that is surrounded entirely by E.U. nations—Austria, France, Germany and Italy. This nation’s reputation of striving toward neutrality dates back to the 16th century and has withstood European wars and both World Wars. Neutrality is engraved in Swiss Law. Its function as an international peaceful buffer zone is well established; Geneva served as a host for peace talks throughout history and continues to do so as the home to the United Nations. Switzerland’s Federal Councilor, Guy Parmelin, assures the world that Swiss neutrality is still intact as he says, “Switzerland wants to be able to offer its services to the countries in conflict if these countries wish.”
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