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RBC: Swiss banks begin to warn clients from Russia about possible closure of accounts

Photo by A. L. on Unsplash

This writes RBC with reference to two lawyers from Switzerland working with Russian clients, as well as a source in the banking sector of this country.

The article specifies that Switzerland faced pressure from the United States and G7 countries due to the small amount of frozen Russian assets.

In late February, Fabian Mayenfisch, a spokesman for the Swiss State Secretariat for Economic Affairs, said that the country’s banks could not use frozen Russian assets for their own purposes.

According to him, any action to manage or use frozen assets is prohibited, except for normal administrative actions.

Columnist Kenneth Rapoza, in a piece for Forbes, expressed the opinion that the Russian banking system was more resilient than the West thanks to the competent actions of the Central Bank.

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