Media report: Swiss banks housed funds from Putin confidants
Julius Bär is accused of maintaining business links with a Russian close to Putin until 2021.
Keystone
According to research by the Tages Anzeiger, Swiss banks have maintained business relationships with high-ranking Russian officials and Putin confidants despite sanctions and money laundering allegations. The focus of the reporting is Bank Julius Bär.
This content was published on
2 minutes
Keystone-SDA
Русский
ru
Швейцарские банки размещали средства доверенных лиц Путина
According to the report, Julius Bär has, among others, Leonid Reiman as a customer until 2021. Reiman served Russian President Vladimir Putin in various capacities until 2010. According to an internationally recognized court, Reiman is said to have enriched himself from Russian state assets in the 2000s.
The court found money laundering on a large scale, the report continued. Despite the money laundering allegations and the closeness to the regime, the Julius Bär bankers conducted further business with Reiman. The figures come from a new data leak from the Zurich financial centre.
Bank Julius Bär is not commenting on the allegations. “We generally do not comment on perceived or actual customer relationships,” writes a spokeswoman for the bank upon request.
More
More
Julius Bär to cut ties with Russian clients by 2024
This content was published on
The Swiss private bank will end all business with clients based in Russia, it told them in a letter seen by Reuters on Tuesday.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
As a Swiss Abroad, how do you feel about the emergence of more conservative family policies in some US states?
In recent years several US states have adopted more conservative policies on family issues, abortion and education. As a Swiss citizen living there, how do you view this development?
Swiss-backed ‘Hera’ asteroid mission hits key milestone with Mars flyby
This content was published on
According to the European Space Agency (ESA), the Red Planet’s gravity will tweak the probe’s path, cutting months off the journey and saving a lot of fuel.
Swiss man arrested over Geneva parcel bomb attacks
This content was published on
A 61-year-old Swiss man was arrested in Geneva in connection with the parcel bomb incidents that left a man and a 12-year-old girl seriously injured.
UN officials in Geneva report over 100 civilian executions in western Syria
This content was published on
Verification is ongoing, and the actual number is likely higher, said a UN spokesperson in Geneva. A Syrian NGO claims executions could exceed 1,000.
Swiss pharma giant Roche partners with Zealand Pharma on new obesity treatment
This content was published on
Roche announced that it has struck an exclusive deal with Denmark's Zealand Pharma to develop and market petrelintide, a new treatment for obesity.
Experts lower Swiss growth forecasts due to US trade tensions
This content was published on
The uncertainty caused by ongoing trade conflicts is making companies hesitant to make decisions, which significantly hinders investment.
Swiss abbot resumes role following abuse investigation
This content was published on
Scarcella was accused in the Catholic Church abuse scandal last autumn. In October 2024, the Vatican declared there was no evidence of abuse or harassment against him.
Swiss stock exchange operator SIX to cut 150 jobs in efficiency drive
This content was published on
"We're not revealing the number of job losses at each location at the moment," said a SIX spokesperson. However, there will be cuts in Switzerland as well.
Martin Pfister named new Swiss government minister
This content was published on
Pfister’s election keeps the linguistic balance of Switzerland’s government, but shifts gender balance to only two women.
Swiss interior minister meets UN leaders in New York for women’s rights session
This content was published on
The Swiss interior minister also held bilateral meetings with UN Secretary-General António Guterres and Sima Sami Bahous, Executive Director of UN Women
The image of foreigners in Switzerland has deteriorated
This content was published on
The Federal Statistical Office has found that Swiss people’s views of foreigners have worsened over the last couple of years.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Switzerland has to ‘go above and beyond’ to implement sanctions
This content was published on
The war in Ukraine should be a turning point for Switzerland to change its mindset on transparency, says financial crime expert Tom Keatinge.
Investigating Swiss traders’ links to murky world of Russian oil
This content was published on
Swiss-based traders in the oil market have come under scrutiny as Western nations try to starve Moscow of resources to wage war on Ukraine.
Patrick Odier: ‘Switzerland cannot hide behind neutrality’
This content was published on
Banking scion Patrick Odier on the art of counselling the ultra-rich, taking risks and why Switzerland should move away from moral isolationism.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.