Switzerland must do more to freeze Russian assets
The NGO Public Eye, which exposes 32 Russian oligarchs in an investigation on Monday, is calling on Swiss parliamentarians to quickly extend sanctions on the import and trade of Russian oil and gas.
Screenshot Oligarchs.ch
L’ONG Public Eye screened 32 Russian personalities whose cumulative assets would reach the sum of 293 billion francs. It calls on Switzerland to apply sanctions effectively against this economic elite and to step up its fight against financial opacity and money laundering.
Public Eye sent its investigation in the form of a card game to federal parliamentarians on Monday, as the special session of the National Council opens in Bern and a large military parade is held in Moscow.
The Parliament is invited to “play the right card” in the face of Russian aggression in Ukraine and to commit to a rapid extension of sanctions on the import and trade of Russian oil and gas, writes Public Eye.
“Advantages”
The NGO’s dossier shows how the “advantages” of the Swiss economic center are systematically used by the Russian oligarchs: a cutting-edge offshore industry to create front companies; a highly lucrative and unregulated commodity trading industry; loopholes in anti-money laundering and financial secrecy that allow lawyers to set up structures to hide funds, evading due diligence.
Most of these oligarchs have stakes in companies (with head office or commercial branch) in Switzerland, have long-standing relationships with the Swiss financial center or own luxury properties in Switzerland, Public Eye notes again.
Published today at 00:17
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