Two months into Vladimir Putin’s brutal war of aggression in Ukraine, however, what is remarkable is just how little Russian capital actually seems to be in the Alps. Neutral, inscrutable Switzerland was, perhaps more than any other country, presumed to be the treasure house of the Putin kleptocracy.
But despite Bern having mirrored all of the US and EU sanctions against Russian oligarchs — measures that apply to around 900 people globally — just $8bn of Russian assets in the country have so far been frozen.
Consider, by comparison, that the channel island of Jersey alone has frozen $7bn of assets linked to a single Russian tycoon, Roman Abramovich.
Here is more from the FT.