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Switzerland refuses to apply EU sanctions against its subsidiaries
Switzerland will not apply the full 14th EU sanctions package against Russia because it already allows its subsidiaries to be held accountable for sanctions evasion, the country's government said in a statement.
Switzerland has expanded sanctions against Russia following EU actions.
It is known that Switzerland is already investigating many such cases. In this regard, the government has decided to reject the new EU sanctions package "in its current form".
Swiss banks have previously called international sanctions against other countries a major risk, arguing that neutral Switzerland should maintain its status as a safe haven for funds rather than becoming a "passive enforcer of measures."