Swiss banks: Risk of sanctions for Chinese secret accounts
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.