The Russian invasion of Ukrainian has led to the Swiss government imposing sanctions on Russia and wealthy Russians close to Vladimir Putin by freezing their Swiss bank accounts. Lately, Switzerland is also “closely monitoring” Chinese wealth in Swiss banks following the intelligence input – that Beijing is considering supplying Russia with lethal weapons, such as drones and munitions. According to a Financial Times report, Switzerland’s tough stance on sanctions has fueled concern among wealthy Chinese about whether keeping their money in Switzerland is safe.
While the country, whose public debt amounts to 166% of GDP, is at risk of defaulting at any time, the money of the Lebanese wealthy is evaporating on the shores of Lake Geneva and Zurich. An international letter rogatory has been sent to Switzerland.
