Russia’s invasion of Ukraine has put Switzerland’s much-vaunted neutrality to the test — and along with it, the country's traditional role as international intermediary and reputation as a safe haven for the assets of Russia's richest and most powerful.
While hardly a crackdown compared to other Western sanctions aimed at punishing Moscow for its invasion of Ukraine, the impact could be felt. The rich Alpine nation has been the biggest recipient of transactions by Russian private individuals — ahead of Britain, Spain, Luxembourg and the United States, according to a report compiled by the Swiss Embassy in Moscow.
Swiss authorities are in essence extending measures set up in 2014 after Russia's takeover of Crimea, in which they also sought to ensure that EU sanctions were not dodged in Switzerland, to hundreds more people and businesses — but going further. However, Switzerland is also anxious to safeguard its role as diplomatic go-between for some countries — one of which is Russia. The Swiss government represents the interests of the former Soviet republic of Georgia in Moscow and Russia’s interests in Tbilisi, the Georgian capital, under an arrangement set up after those two countries broke off bilateral ties during their conflict in 2008.
The respected Swiss daily Tages Anzeiger reported Ukrainian President Volodymyr Zelenskyy asked his Swiss counterpart on Saturday to act as a neutral mediator between Ukraine and Russia, and help work toward a cease-fire between the two countries, notably in the context of a Human Rights Council meeting in Geneva opening Monday. The Swiss Foreign Ministry did not confirm any such communication.
Economic concerns — not just the political neutrality that is enshrined in Swiss law — could also figure into the Swiss calculations.
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