The Swiss Times - Swiss News in English

FDP Leader Calls for Switzerland to Join Oligarch Money Taskforce

The Swiss Federal Democratic Party (FDP) leader Thierry Burkart has expressed his support for Switzerland to join the international taskforce to track Russian oligarch funds. This follows the statement of Swiss Bankers Association (SBA) chief Roman Studer, who said that he saw no reason why Switzerland should not join the taskforce. Burkart said in an interview with the Swiss television that Switzerland should join the taskforce in order to have the opportunity to present its stance on the matter and to show that it is already actively involved in the issue. This puts the FDP in line with the other major Swiss political parties, who have already called for Switzerland to join the taskforce of the G7 countries. Studer had responded to criticism from the US regarding hidden oligarch funds by saying that Switzerland, as a small, export-oriented country, must clearly position itself despite the pressure. He said that the SBA follows a zero-tolerance strategy against money laundering and terrorism financing, and that a relatively large amount of wealth is blocked in relation to the size of the financial market. He saw few reasons why Switzerland should not join the G7 taskforce. However, the Swiss Federal Council rejected the proposal in April.nnnnnnnnnnnnnnnnnnnnnnnnnn

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