Switzerland should be doing more to track down Russian money held in the country.
A Ukrainian government advisor, Alexander Rodnyansky told the SonntagsBlick newspaper that there is a vast amount of Russian money sitting in Swiss banks and more needs to be done to track it down.
So far, this country has blocked nearly 6 billion francs – but many believe that’s a vast underestimate of the total held by Russians.
Under the rules, banks have to inform the authorities of any amount of over CHF 100,000 held by a Russian national.
The State Secretariat for Economic Affairs points out that not all Russians have money in Switzerland – and those who do are not necessarily on the sanctions list.
Several political parties are suggesting a task force with legal powers is set up to hunt down Russian assets.
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