Swiss Government Wants More Oversight Of Commodity Trading Sector
(MENAFN- Swissinfo)
Switzerland is a major trading hub for Russian crude oil. Keystone / Maxim Shipenkov
The government has commissioned a study to look into the country's raw material traders amid more questions about the sector's compliance with sanctions against Russia.
This content was published on March 4, 2023 - 16:58 March 4, 2023 - 16:58 Keystone-SDA/jdp Pусский
(ru)
«швейцария реализовала санкции против россии быстро и качественно»
In an interviewexternal link with Swiss public television, SRF, on Saturday, Helene Budliger, who heads the State Secretariat for Economic Affairs (Seco), expressed confidence that sanctions against Russia have been implemented quickly and efficiently.
However, she noted that insight was lacking in some instances, especially when it comes to the commodity trading sector. For example, trade with Russia is sometimes not listed separately in the customs statistics. Switzerland has adopted various rounds of European Union sanctions including a price cap on russian crude oil announced last December.
The government has now commissioned a study to gain a better overview of the sector, Budliger told the SRF radio programme Rundschau. This is intended to fill in gaps such as the number of jobs created and tax base of the raw materials sector.
Budlinger said that Seco has received credible confirmation that traders have shut down their business with Russia in accordance with sanctions but that they have limited ability to monitor compliance.“We are neither the police nor the public prosecutor,” she said.
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