“When countries around the world have responded with harsh sanctions to Russia’s offensive war against Ukraine, the political and financial elite around Vladimir Putin can only count on Switzerland to reject sanctions against Russia,” wrote the German daily newspaper Bild on Monday.
“Russian assets are not being frozen, there are no entry bans,” the publication notes, pointing out that those on the EU sanctions list “can safely fly to Zurich to empty accounts and bank cells.”
In little Switzerland, which “always liked to do business with despots, dictators and oligarchs, up to 10 billion dollars fall out annually,” Bild emphasizes, citing information from the Swissinfo portal.
“Almost a third of all Russian fortunes located abroad are located in Switzerland. 80 percent of Russian trade in goods passes through Switzerland,” we read.
“Putin’s oligarchs are especially fond of small private banks.”
“Particularly small, cautious private banks are popular with Putin’s oligarchs—and are making a fortune out of it,” writes Bild.
The Swiss newspaper Blick asks in astonishment: “What must happen for our government to take a stand? Should Russian tanks stand in front of Rorschach (a city in Switzerland on Lake Constance) before Putin’s assets are frozen?
“Under the sails of neutrality, Switzerland did not take a single position during the Second World War, becoming the main center for storing gold looted by the Nazis,” the newspaper recalls.