Europe financial news

Ukraine’s Zelenskiy urges Swiss to crack down on Russian oligarchs

BERN, March 19 (Reuters) – Ukrainian President Volodymyr Zelenskiy urged Switzerland on Saturday to crack down on Russian oligarchs who he stated have been serving to to wage warfare on his nation from the protection of “stunning Swiss cities”.

In an audiolink tackle to 1000’s attending an anti-war protest in Bern, Zelenskiy thanked Switzerland for its assist since Russia launched its invasion of Ukraine, but in addition had clear language concerning the Swiss monetary sector.

“Your banks are the place the cash of the individuals who unleashed this warfare lies. That’s painful. That can also be a battle towards evil, that their accounts are frozen. That might even be a battle, and you are able to do this,” he stated by way of a translator.

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“Ukrainians really feel what it’s when cities are destroyed. They’re being destroyed on the orders of people that stay in European, in stunning Swiss cities, who get pleasure from property in your cities. It could actually be good to strip them of this privilege.”

Impartial Switzerland, which isn’t a member of the European Union, has totally adopted EU sanctions towards Russian people and entities and frozen their wealth in Swiss banks. learn extra

The federal government has not supplied a determine for the way a lot wealth is roofed by the freeze. Switzerland’s secretive banks maintain as much as $213 billion of total Russian wealth, the nation’s monetary trade affiliation estimates. learn extra

Zelenskiy additionally took a swipe at Swiss-based companies that proceed to function in Russia, singling out meals group Nestle (NESN.S) and accusing it of not dwelling as much as its “Good Meals, Good Life” slogan.

Requested to touch upon Zelenskiy’s remarks, a Nestle spokesperson stated the corporate totally complies with all sanctions and had scaled again its operations in Russia, together with stopping all imports and exports of non-essential meals objects.

“Persevering with to produce important objects to individuals in Russia doesn’t imply we proceed doing enterprise as normal within the nation,” the spokesperson stated, noting that the corporate had halted investments and product promotions and was not making any revenue there.

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Reporting by Arnd Wiegmann
Writing by Michael Shields
Modifying by Helen Popper

Our Requirements: The Thomson Reuters Belief Ideas.

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