Russia vs Ukraine: Switzerland breaks its historically neutral status, adopts EU sanctions, freezes Putin’s assets

The Swiss president has stated that Russia’s invasion on Ukraine is unacceptable, and that Switzerland will implement European Union sanctions, including asset freezes, against Russians, thereby depriving well-heeled Russians of access to one of their favourite safe havens..

Ignazio Cassis said Monday at a press conference that Russia’s invasion was morally and politically untenable.

Switzerland’s government has been attempting to strike a balance between its disapproval of Russia’s activities and its history of neutrality and acting as a bridge between adversarial nations.

He went on to say that the Swiss executive body, the Federal Council, has agreed to fully implement the European Union’s sanctions, including asset freezes.

Although Switzerland is not a member of the European Union, it is surrounded by four EU countries: Austria, France, Germany, and Italy.

“This is a huge step for Switzerland,” Ignazio Cassis said at a press conference after the Alpine nation had been debating for days whether to join Western nations and take punitive action against Russia for its invasion in Ukraine.

The holdings of those named on Brussels’ blacklist, including President Vladimir Putin and Foreign Minister Sergey Lavrov, have been “frozen with immediate effect,” according to Finance Minister Ueli Maurer.

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