Ignazio Cassis, The Swiss President, says it is very probable that Switzerland will follow the European Union on Monday in sanctioning Russia and freezing Russian assets.
The Swiss Federal Council will meet on Monday to review recommendations by the departments of finance and economy with regards to sanctions against Russia. Cassis, interviewed on French-language Swiss public television, believes that it is very probable that the council will decide to freeze Russian assets.
The president of Switzerland is quoted as saying that the country is “very probable” to freeze Russian assets. Asked if Switzerland would follow the EU in freezing Russian assets, he said: “It is very probable that the government will decide to do so tomorrow, but I cannot anticipate decisions not yet taken.”
Up to now Switzerland has walked a fragile line as it attempts to show solidarity with the West, while simultaneously showing its traditional neutrality, but without surrendering sovereignty. Growing pressure from both domestic and Western forces demands that the Swiss government side clearly with the West against Russia and adopt the caustic sanctions imposed by the European Union.
Russia’s holdings in Swiss banks have nearly reached 10.4 billion Swiss francs ($11.24 billion) in Switzerland in 2020, Swiss National Bank data show.
