How much money does Russia actually have deposited in Swiss banks? How much will Swiss banks lose to Russian sanctions?

From the results of the liquidation of the Russian daily newspaper, the amount of currency stored by Russia in Swiss banks is as much as 150 to 200 billion Swiss francs, and Swiss sanctions against Russia will have a credibility of its banks? A crisis of confidence? that could seriously threaten Swiss financial creditworthiness.

After the start of the U.S.-Russia war, the world landscape has also seen new changes, and Swiss banks, previously known for their anonymity and security, have taken the rare step of imposing economic sanctions on Russia, and have even reassessed the holdings of Russian clients' assets. From the results of the current assessment, the actual size of the Russian deposit business in Swiss banks is well over 200 billion Swiss francs. In order to cut off the source of funds for Russian clients, the Swiss authorities are constantly counting the number of vaults held by Russians in Swiss banks, and said that only 4% of the deposits belong to the Russians, only the volume of about 33 billion Swiss francs.

Switzerland's move to check Russia is a political standoff, and one that will have a big impact on a financial-services-based economy like Switzerland's. The Swiss banks have a reputation for being the world's largest banks. Swiss banks have a reputation as one of the world's most secure depositories for the wealthy and a public tax haven. But in January 2022, Switzerland left its tradition of neutrality behind and joined the West in imposing sanctions on the Russian economy. The brunt of the sanctions has been felt by Russian President Vladimir Putin, who has had his assets frozen in Switzerland, including those of 370 Russian politicians and businesspeople who have been sanctioned by European Union countries.

The two largest domestic banks in Switzerland announced in early March 2022 that they were open to Russia? limited? exposure, intended to cut off Russian clients' access to funds. But the practice also puts the financial credibility of Swiss banks and the safety of their asset deposits in jeopardy. In the future, tycoons will have to carefully consider whether they can keep their money in Switzerland, which could cause a major injury to the country's financial services industry.

From the Swiss bank this practice can be seen, this is the Western countries for Russia's a naked economic division, Switzerland on Russia's economic sanctions want to divide the Russian assets, so? Shameless? The behavior of the people is reviled, but also to the capitalists raised a wake-up call, that is, we must pay attention to the security of the assets stored in the assessment, do not fall into the trap of others.