Switzerland Joins European Sanctions on Russian Assets

Switzerland on Monday said it will immediately freeze any assets held in the country by the Russian president, prime minister and foreign minister. Its Federal Council said it also will adopt the European Union’s sanctions announced last week over Russian aggression in Ukraine.

The country, a hub for conducting international business and storing private wealth, restricted its banks on Friday from entering new business with EU-blacklisted entities. The Federal Council went much further Monday, saying it would coordinate with the EU on applying the bloc’s full package of recent sanctions.

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