Support The Moscow Times!

Swiss Move to Bolster Sanctions

GENEVA — The Swiss government has decided not to adopt European Union sanctions against 33 people in connection with Russia's annexation of Crimea, but will prevent them from using Switzerland to get around the visa bans and asset freezes.

The Swiss Federal Council, which includes the president and six other ministers, said those subject to EU sanctions will not be able to use "financial intermediaries" in Switzerland for new business.

In a statement Wednesday, the council said the 33 people will not be permitted to transfer any assets that they hold outside the EU into Swiss banks.

The council says its aim is "to prevent creating the perception that Switzerland's financial center could benefit from the EU sanctions."

Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.