Reuters: Switzerland doesn’t want to be seen as haven for evasion of sanctions on Russia

Switzerland, a major global banking center, made it clear that it does not want to be seen as a haven for the evasion of sanctions on Russia, a senior US Treasury official said, Report informs via Reuters.

Treasury's top sanctions official, Undersecretary Brian Nelson, will visit Switzerland next week to discuss further moves to crack down on sanctions evasion, with additional stops in Italy, Austria, and Germany, Reuters reported last week.

Elizabeth Rosenberg, Treasury's assistant secretary for terrorist financing and financial crime, will travel separately to Kazakhstan and Kyrgyzstan.

"We know that right now we're in a decisive period where Russia not only needs the electronics to create precision missiles, but they need the smaller things in their economy to build ammunition," the official said.

The official said US officials had also looked at some specific cases involving a price cap imposed on Russian oil by the Group of Seven countries and Australia and had reached out to some insurance companies about actions they may want to take.