Switzerland tightens sanctions on Syria

GENEVA, SWITZERLAND – The Swiss government announced tighter sanctions against the Syrian government Wednesday 19 December, in alignment with measures taken by the European Union. A communiqué issued by the Federal Council listed the new measures, which include the ban of all sales and purchases of military equipment to and from Syria, an embargo on  concluding […]

Swiss and Egyptians moving to restore frozen CHF410m to nation

BERN, SWITZERLAND – Egyptian and Swiss legal experts met Friday 2 December to “take stock of progress made so far and to strengthen bilateral cooperation” for “an efficient restitution of any assets of illicit origin from the entourage of the former Mubarak regime”, says the Swiss Justice Department. Switzerland froze about CHF410 million in assets […]

Arab League votes immediate sanctions against Syria

GENEVA, SWITZERLAND – Nineteen of the 22 members of the Arab League voted Sunday 27 November for sanctions against Syrian President Bashar al-Assad and his government, effective immediately. The sanctions include travel bans, freezing government assets and end to Arab investments and dealings with Syria’s central bank. The sanctions come as the number of deaths […]

Seco confirms CHF27m in Syrian assets frozen

BERN, SWITZERLAND – The Swiss Secretariat for Economic Affairs confirmed to ATS and AP news agencies Sunday that the government has blocked more than CHF27 million in Syrian assets, although it has not confirmed if they belong to Bachar al-Assad, president. He and his brother are on a list of 23 persons whose assets were […]

Mubarak frozen Swiss funds now in “10s of millions” (update)

Update 19 February  Bern, Switzerland (GenevaLunch) – The assets of former Egyptian President Hosni Mubarak and his entourage that have been reported by banks and others to the Swiss government in the past week now amount to tens of millions of francs, the Swiss foreign ministry told news agencies late Friday. Bern had already been […]

Mubarak’s assets rapidly frozen in Switzerland (update)

Update 15 February  Bern, Switzerland (GenevaLunch) – Assets that may have been deposited by Hosni Mubarak and those close to him were the target of a Swiss government directive to banks and other financial institutions within 30 minutes of the announcement of his resignation Friday 11 February. The Swiss government’s decision but not the amount […]

Swiss toughen sanctions against Iran

Bern, Switzerland (GenevaLunch) – The Swiss government is increasing sanctions against Iran to the same level as those put in place by its main commercial partners, the government said Wednesday morning 19 January. The tougher measures were taken to ensure that Switzerland is not used by Iran to get around the stricter sanctions put in […]