Ukraine war: Commodity traders are said to have circumvented sanctions

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Hardened suspicionDid two Swiss raw materials companies circumvent Russia sanctions?

Three companies are currently in the focus of Seco because they are said to have circumvented Russia sanctions. The Federal Prosecutor’s Office has now been called in in two cases.

Justin Arber
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  • The Federal Prosecutor’s Office is investigating two raw materials traders who are said to have circumvented the Swiss sanctions against Russia.

  • The authorities can only be called in in particularly serious cases.

  • In the event of a conviction, the companies affected must pay a fine of one million francs.

Commodity traders are said to have circumvented the Swiss Russia sanctions with the help of subsidiaries. This suspicion, which has been circulating for a long time, has now been confirmed. The business is said to have been relocated to the Gulf states, where no comparable sanctions were imposed against Russia.

Federal prosecutor’s office is investigating

How SRF research show, the State Secretariat for Economic Affairs (Seco) is currently following the activities of three raw material trading companies more closely. In the case of two of them, the suspicion has now been “strongly confirmed”. The presumption of innocence still applies in both cases.

We are talking about “particularly serious violations” of the sanctions. The Federal Prosecutor’s Office was called in for further investigations. It is the first time that the authority has been brought in. The Seco independently prosecutes minor violations of the regulations.

This punishment threatens

So far, the Federal Prosecutor’s Office has only told the SRF that various investigations are underway. During the course of its research, the news company found out the name of one of the accused companies. A lawyer says that they have no knowledge of the investigations by the Federal Prosecutor’s Office.

If the companies are convicted, they face a fine of one million Swiss francs.

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