Switzerland’s newly adopted tough stance on Russia has forced the Swiss economy to readjust to sanctions, blowing a wind of panic through the raw materials market in particular.
Switzerland announced it would follow the sanctions being imposed by the European Union, abandoning Bern’s traditional reserve by ordering the immediate freezing of assets belonging to Russian companies and individuals appearing on the EU blacklist.
And it went further on Friday, adopting even stricter EU sanctions applied in response to Moscow’s February 24 full-scale invasion of Ukraine. Exporting goods that could enhance Russia’s military capabilities is prohibited.—AFP
