Oligarch money
Switzerland supports the EU's sanctions against Russia and, according to data from the State Secretariat for Economic Affairs, currently has 1703 individuals and 421 companies on the country's corresponding lists. However, for reasons of neutrality, Switzerland does not want to join an international task force to track down Russian oligarch money.
In a vote in parliament on Wednesday, 80 MPs were in favor and 101 against. The move to join was initiated by the Greens.
Switzerland offers its services between countries that have no diplomatic relations, such as Iran and the USA. These countries can exchange messages via the Swiss embassy. Such "good offices" could become more difficult by participating in such a task force, said Hans-Peter Portmann, member of the Free Democrats (FDP).
The aim of the task force
A year ago, the Swiss government turned down an invitation from the G7 states to join the task force. Countries such as the USA, Canada, Germany, France, Italy, Japan and Australia work together in this group. Its aim is to track down Russian oligarch money and ensure that economic sanctions are not circumvented.
Since the start of the Russian invasion, almost eight billion Swiss francs in Russian assets have been blocked. However, many governments suspect that significantly more Russian money is stashed there.
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