Contents tagged with Switzerland

  • Netherlands follows Switzerland in seizure of Gazprom assets

    The Netherlands has followed Switzerland in the seizure of Gazprom’s assets in Europe.

    According to the ruling of the Arbitration Institute of the Stockholm Chamber of Commerce that Gazprom must pay Ukraine $2.6 billion in compensation for the shortfall in gas transit, Gazprom’s shares in its subsidiary companies in the Netherlands have been arrested, stated the press service of Naftogaz Ukraine.

    Petitions for the implementation of restrictive measures were made at a Dutch court, and were …

  • Switzerland freezes bank accounts of Russian oligarch Vekselberg after US sanctions are imposed

    Swiss banks have decided to freeze the personal bank accounts of Russian billionaire Viktor Vekselberg due to US sanctions, Forbes Russia reports. The journal cited sources close to Renova group, the Russian businessman’s primary asset.

    According to Forbes, approximately one billion Swiss francs (1.01 billion dollars) have been frozen in Vekselberg's Swiss accounts. The oligarch’s lawyers are already trying to appeal this decision and obtain compensation for the freeze, but experts interviewed …

  • Switzerland starts seizing Gazprom assets

    Naftogaz Ukraine has begun the procedure of exacting from Gazprom a fine of $4.6 billion, which was awarded to the Ukrainian company in February 2018 by the Arbitration Institute of the Stockholm Chamber of Commerce.

    The first to be hit were the Russian company’s assets in Switzerland, where the companies Nord Stream AG and Nord Stream 2 AG are registered. The first company oversees the Nord Stream and is 51% owned by Gazprom, the second belongs to Gazprom completely, and is constructing the …

  • Swiss laboratory denies Lavrov's claims that Skripal’s poison was developed by NATO

    In response to comments by the Foreign Minister of Russia,The laboratory in the town of Spiez, Switzerland that had contributed to the investigation on the notorious Skripal poisoning incident stated that the BZ toxin was not mentioned in its report.

    “Only the Organization for the Prohibition of Chemical Weapons (OPCW) can comment on this statement. But we can reiterate what we said 10 days ago. We have no doubt that Porton Down was right in identifying Novichok as the poisoning agent,” the …

  • Swiss subsidiary of Russian GazpromBank banned from accepting new clients after money laundering audit

    The Swiss Financial Market Supervisory Authority (FINMA) has uncovered serious inadequacies in the anti money laundering procedures of GazpromBank’s subsidiary company in Switzerland (GazpromBank (Switzerland) Ltd.) and has banned it from taking on new private clients.

    The decision was made earlier, following a two-day investigation prompted by the Panama Papers – material on the offshore accounts and companies of politicians and high-ranking officials from more than 50 countries.“The bank was …

  • Swiss ambassador: corruption is the main hurdle for investors in Ukraine

    Corruption and the absence of the rule of law in Ukraine are serious problems for potential foreign investors, stated the Swiss Ambassador to Ukraine and Moldova, Guillaume Scheurer, during his interview with Interfax-Ukraine.

    "Corruption is an issue. It is a fact that there is no respect for the rule of law. These are the two elements that make many businessmen somehow uncertain about coming to Ukraine. They are ready to deal with competition, business issues and production problems, but not …

  • Switzerland extends sanctions against Yanuckovych

    Switzerland extended for a year the freezing of the accounts of the former presidents of Tunisia and Ukraine and of persons associated with them, stated the Federal Council of Switzerland on its website.

    "At its meeting on December 20, the Federal Council decided to extend for a year the freezing of all accounts in Switzerland of the defunct presidents Ben Ali of Tunisia and Viktor Yanukovych of Ukraine and their entourage and other persons closely associated with them," the report said.

    The …

  • Switzerland requires Ukraine to prove that detained gold belongs to 'Yanukovych's circle'

    Switzerland has demanded evidence for the transfer to Ukraine of more than half a ton of gold stolen and exported by the circle of fugitive ex-president Viktor Yanukovych, TSN reported, citing the press service of the Swiss Federal Department of Foreign Affairs (FDFA).

    "To date, Ukrainian assets estimated at about 70 million Swiss francs have been frozen in Switzerland. The assessment of the amount may change depending on a number of criteria, such as currency fluctuations, the cost of equity, …

  • Ukraine and Switzerland agreed on simplifying visa regime

    The Minister of Foreign Affairs, Pavlo Klimkin announced at a press conference with Didier Burkhalter, the Head of Department of Foreign Affairs of Switzerland that Ukraine and Switzerland have agreed to simplify the visa regime between the countries.

    “We’ve just signed two agreements. I signed with Didier the agreement on facilitating the visa regime. You know that on June 11, we’ll have a visa-free regime with Switzerland but now we settled all issues in such a way that we have clear rules …

  • Switzerland sends 600 tons of humanitarian aid to the Donbas

    The Swiss Embassy in Ukraine has sent 600 tons of humanitarian aid to the uncontrolled territory of the Donetsk region, as reported the State Border Guard Service of Ukraine on their website.

    “30 trucks from the Swiss Embassy went through Novotroitske checkpoint to the uncontrolled territory,” the message on the web site reads.

    According to the information of the border guards, the trucks transported humanitarian cargo for residents of Donetsk region with a total weight of about 600 tons. …