Huge withdrawal of capital from Switzerland to Middle East – media ...News

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Huge withdrawal of capital from Switzerland to Middle East – media
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The United Arab Emirates has become a new safe haven for the wealth of Russia’s sanctioned rich, Swissinfo reports Swiss sanctions against wealthy Russians and their businesses have forced them to move their money elsewhere, most notably the UAE, SwissInfo reported on Friday. Although not an EU member, Switzerland abandoned its traditional neutrality last year and joined the bloc in adopting sanctions against Russian individuals, companies, and organizations and freezing Russian assets in retaliation for Moscow’s military operation in Ukraine. According to Swissinfo, citing a study from the Boston Consulting Gro

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