Sanctions vs. neutrality: Swiss fine-tune response to Russia

By JAMEY KEATEN
Associated Press

GENEVA (AP) — 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. The Swiss executive branch stopped short of announcing unilateral sanctions against Russian interests after Moscow’s blistering military action in Ukraine. Instead, the Federal Council pledged that Russian individuals and companies hit with EU sanctions won’t be able to evade them in Switzerland, which is not one of the EU’s 27 member states. The government said Friday that financial “intermediaries” in Switzerland were now banned from starting new business relationships with 363 Russian people and four Russian companies.