How Switzerland and Japan are standing up to Russia’s invasion of Ukraine
Switzerland joins EU sanctions against Russia over Ukraine crisis
Switzerland, a country known for its neutrality and peace policy, has decided to join the European Union (EU) in imposing sanctions against Russia over its ongoing military intervention and destabilization of Ukraine.
The Swiss Federal Council announced on 28 February that it had adopted the latest packages of sanctions imposed by the EU on 23 and 25 February, which include freezing the assets of individuals and companies linked to the Russian government, banning imports, exports and investments concerning Crimea and parts of eastern Ukraine, and imposing financial sanctions on Russian President Vladimir Putin, Prime Minister Mikhail Mishustin and Foreign Minister Sergey Lavrov.
The Federal Council said that it took this decision “in view of Russia’s continuing military intervention in Ukraine” and that it wanted to “reaffirm its solidarity with Ukraine and its people”. The Federal Council also said that it would deliver relief supplies for people who have fled to Poland.
Switzerland closes its airspace to Russian flights
In addition to adopting the EU sanctions, Switzerland also decided to close its airspace to all flights from Russia and to all movements of aircraft with Russian markings from 3pm on Monday, except for flights for humanitarian, medical or diplomatic purposes.
This measure is in line with the airspace closures in other European countries, such as France, Germany and the UK, which have also suspended air traffic with Russia as a response to its violation of Ukraine’s sovereignty and territorial integrity.
Switzerland said that it took this measure based on its constitutional authority to safeguard the country’s interests and external security, independence and neutrality.
Switzerland convicts bankers over Putin money laundering
Meanwhile, Switzerland also took action against four bankers who were found guilty of failing to exercise due diligence over accounts linked to a prominent friend of Putin.
The four bankers worked for Gazprombank, the main channel of Russian gas and oil payments, and were accused of helping Gennady Timchenko, a billionaire businessman who is under US and EU sanctions, to launder money through Swiss accounts.
The bankers were sentenced to suspended fines ranging from CHF 50,000 to CHF 150,000 by a court in Geneva on Wednesday. The court also ordered them to pay CHF 1.5 million in compensation to the Swiss state.
The verdict is seen as a rare example of Switzerland cracking down on money laundering involving Russian elites. Switzerland is home to many wealthy Russians who have stashed their assets in Swiss banks and real estate.
Japan follows suit with sanctions against Russia
Switzerland is not the only country that has taken a stand against Russia’s aggression. Japan, another country that has traditionally maintained friendly relations with Russia, has also joined the EU and other allies in imposing sanctions against Moscow.
Japan announced on 23 February that it had imposed sanctions on Russia over its actions in Ukraine, including prohibiting the issuance of Russian bonds in Japan, freezing the assets of certain Russian individuals and entities, and restricting travel to Japan for some Russian officials.
Japan also tightened its sanctions on 27 January, following Russia’s deadly missile strikes in Ukraine. Japan added goods to an export ban list and froze the assets of more Russian officials and entities. The banned goods include items that could be used to enhance Russia’s military capability, such as robots, semiconductor equipment, and vaccines.
Japan’s decision to sanction Russia was seen as a significant move, as Japan has been seeking to improve its ties with Russia and resolve a longstanding territorial dispute over four islands off Hokkaido. Japan’s Prime Minister Fumio Kishida said that Japan had to take action to defend international law and order, and expressed his hope that Russia would de-escalate the situation in Ukraine.
Are the sanctions working?
The sanctions imposed by Switzerland, Japan, and other countries are aimed at isolating Russia from the international financial system, disrupting its trade and investment flows, and imposing massive costs on its economy and leadership.
However, some analysts doubt whether the sanctions will be effective in deterring Russia from further escalating its aggression in Ukraine. They argue that Russia has already factored in the economic consequences of its actions, and that it is more motivated by geopolitical and security interests than by economic incentives.
They also point out that Russia has some countermeasures to mitigate the impact of the sanctions, such as using alternative payment systems, diversifying its trade partners, and relying on its vast natural resources and reserves.
Moreover, they warn that the sanctions could have unintended consequences for the global economy and stability, such as triggering a humanitarian crisis in Ukraine, disrupting energy supplies to Europe, and increasing tensions between nuclear-armed powers. They suggest that diplomacy and dialogue are still needed to find a peaceful solution to the crisis.
Conclusion: The future of the Ukraine crisis
The Ukraine crisis is one of the most serious and complex challenges facing the international community today. It involves not only the fate of a sovereign nation and its people, but also the security and stability of Europe and the world.
The sanctions imposed by Switzerland, Japan, and other countries are part of a coordinated effort to pressure Russia to stop its aggression and respect Ukraine’s territorial integrity and sovereignty. However, the sanctions alone may not be enough to achieve this goal, as Russia seems determined to pursue its strategic interests in the region.
Therefore, it is essential that the international community continues to support Ukraine’s sovereignty and democracy, and to seek a diplomatic and peaceful resolution to the conflict. This requires dialogue and cooperation among all parties involved, as well as respect for international law and human rights.
The future of the Ukraine crisis depends on the willingness and ability of Russia and Ukraine to find a common ground and a lasting solution. The role of Switzerland, Japan, and other countries is to facilitate this process and to uphold the principles and values that underpin the international order.
References:
Switzerland Joins Tenth Package Of EU Sanctions Against Russia. (2023, March 30). MENAFN. Retrieved from https://menafn.com/1105901335/Switzerland-Joins-Tenth-Package-Of-EU-Sanctions-Against-Russia
Ukraine: Switzerland to implement tenth package of sanctions. (2023, March 30). The Federal Council. Retrieved from https://www.admin.ch/gov/en/start/documentation/media-releases.msg-id-94032.html
Bankers convicted in Switzerland over Putin money laundering. (2023, March 30). MSN. Retrieved from https://www.msn.com/en-us/money/markets/bankers-convicted-in-switzerland-over-putin-money-laundering/ar-AA19gNx7
Switzerland adopts EU sanctions against Russia. (2022, February 28). The Federal Council. Retrieved from https://www.admin.ch/gov/en/start/documentation/media-releases.msg-id-87386.html
Japan tightens Russia sanctions after deadly missile strikes in Ukraine. (2023, January 27). Reuters. Retrieved from https://www.reuters.com/markets/japan-bans-exports-robots-semiconductor-parts-russia-new-sanctions-2023-01-27/
Japan imposes sanctions on Russia over actions in Ukraine. (2022, February 23). Reuters. Retrieved from https://www.reuters.com/world/japan-imposes-sanctions-russia-over-actions-ukraine-2022-02-23/
Japan announces fresh economic sanctions against Russia. (2022, May 10). Reuters. Retrieved from https://www.reuters.com/world/asia-pacific/japan-announces-fresh-economic-sanctions-against-russia-2022-05-10/