Helene Budliger-Artieda, head of the Swiss State Secretariat for Economic Affairs, responded to critiques voiced by the United States Ambassador to Bern, Scott Miller, who suggested that Switzerland could intensify consequences by freezing additional Russian assets. According to Switzerland’s public broadcaster SRF,乌the state has already placed a substantial portion of Russian assets under sanctions, a move that has drawn international attention. (attribution: SRF)
Budliger-Artieda stated that Swiss authorities regularly remind the United States and other partner nations to share credible, litigable leads if available. She emphasized that, so far, no actionable leads have been provided by American counterparts. The official noted that Miller’s assessment of Russia’s asset holdings in Switzerland was made without prior consultation with Swiss authorities and does not reflect an official position. (attribution: Swiss authorities)
In her remarks, Budliger-Artieda underscored that only a small percentage of Russian individuals fall under sanctions set by Switzerland, and the government remains committed to impartial enforcement. She stressed that political bias or polarization over sanctions would not guide Swiss policy. The aim, she explained, is to uphold the rule of law while maintaining an even-handed stance in the international sanctions framework. (attribution: Swiss government statement)
The sanctions regime has already resulted in the blocking of about $8.1 billion in Russian assets by Swiss authorities. An additional $19 billion was frozen through actions taken by Credit Suisse. These figures illustrate a broader effort to constrain Russian financial activity within Switzerland as part of a coordinated international response. (attribution: Swiss financial authorities)
Miller’s March statement urged Switzerland to broaden the scope of asset recovery, freezing, and eventual redirection of assets to support post-conflict reconstruction in Ukraine. The ambassador argued for maximizing asset identification to facilitate future confiscation and repurposing for Ukraine’s recovery. (attribution: US Mission in Switzerland)
On March 20, Swiss lender UBS requested Russian clients to confirm their residency status and warned that accounts could be blocked if information is not provided or is delayed. The move reflects Swiss financial institutions’ ongoing compliance with international sanctions and due-diligence requirements, ensuring that client profiles align with evolving policy expectations. (attribution: UBS communications)
The ongoing dialogue between Bern and Washington highlights the delicate balance Switzerland seeks to strike: maintaining neutrality while participating actively in the global sanctions regime. Swiss authorities reiterate their commitment to transparency, due process, and proportional measures, even as international partners urge more aggressive asset recovery strategies. (attribution: Swiss government press office)
Observers note that the sanctions landscape continues to evolve as EU and allied nations refine their approaches to asset tracing, verification, and enforcement. In Switzerland, the process involves meticulous asset tracking, rigorous compliance checks, and careful consideration of domestic economic impact. The government argues that a steady, lawful approach preserves financial stability and protects citizens’ interests, while still contributing to the broader international effort against aggression. (attribution: Swiss financial policy commentary)