Switzerland Breaks Neutrality, Will Freeze Russian Assets in Response to War in Ukraine
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Switzerland Breaks Neutrality, Will Freeze Russian Assets in Response to War in Ukraine
Switzerland
Breaks Neutrality, , Will Freeze Russian Assets , in Response to War in Ukraine.
Switzerland's president, Ignazio Cassis, announced the freeze on Feb.
28.
The announcement follows a meeting of the Swiss Federal Council in response to the Russian invasion of Ukraine.
Among the 367 Russian individuals whose assets will be frozen are Russian President Vladimir Putin.
Russian Prime Minister Mikhail V.
Mishustin, .
And Russian Foreign Minister Sergey V.
Lavrov.
The 367 individuals singled out by the Swiss Federal Council mirrors those who have been sanctioned by the E.U., as well.
According to Swiss data, Russian assets in Switzerland equated to $11 billion in 2020.
Among a throng of significant developments in the global response to the Russian invasion of Ukraine.
The Swiss response stands out due to the nation's staunch tradition of neutrality during times of conflict.
The nation also joined other E.U.
Members in closing its airspace to Russian planes.
This particular development means that Foreign Minister Lavrov will no longer address the U.N.
Human Rights Council in Geneva as he was scheduled to on March 1.
Geneva has been host to a number of significant peace talks, including last year between Putin and President Joe Biden ...
as well as between former Soviet Premier Mikhail Gorbachev and former President Ronald Reagan in the 1980s.
Switzerland will consider each new E.U.
Sanction enacted upon Russia on an individual basis.
There has been no provocation which could have justified such an intervention, Rumi.
Swiss financial institutions are reportedly popular for members of the Russian elite.
Three years after President Putin's full-scale invasion of Ukraine, the UK has announced its largest sanctions package since 2022. Over 100 new sanctions directly target individuals, companies, and financial institutions aiding Russia's war efforts. The package includes sanctions on military suppliers, shadow oil fleets, and foreign entities supporting Russia, including North Korean officials and banks in Central Asia. The UK government says these measures will disrupt Putin's war machine and strengthen Ukraine's defense.
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