Swiss parliament again refuses to join G7 team to track Russian oligarchs' money

GENEVA, April 17 (DPA/EP) –

The Swiss Parliament – National Council – has again rejected this Wednesday the invitation to be part of a special international work team together with the EU, the G7 and Australia, in charge of tracking the money of Russian oligarchs.

The proposal, baptized as the working group on Russian elites, representatives and oligarchs (REPO), has been defeated with 101 votes against – including those of the Government – and 80 in favor. Swiss conservative parties argue that it is incompatible with traditional Swiss neutrality in foreign policy.

“We do not want to get politically involved in this body,” said the Free Democrats (FDP) coalition, who explained that Switzerland has served as a liaison between countries that do not have diplomatic relations, such as Iran and the United States, and this measure would make it difficult these “good offices”.

The Swiss Government already rejected an invitation from the G7 countries to join the working group a year ago. Countries such as the United States, Canada, Germany, France, Italy, Japan and Australia are collaborating to track Russian oligarchs' money and ensure that economic sanctions are not evaded.

Almost 8 billion Swiss francs (8.2 billion euros) in Russian assets have been blocked in Switzerland since the invasion of Ukraine more than two years ago. Other governments suspect there is much more Russian money held there, due to Switzerland's long-standing reputation as an international banking center.