US Treasury discusses sanctions with Swiss commodity stakeholders
The discussions on sanctions against Russia touched on technical aspects, as part of the multi-stage exchanges that the US Treasury Department is conducting with its trading partners in several European countries.
This content was published on
2 minutes
Keystone-SDA/ac
Español
es
El Tesoro de EE.UU. aborda las sanciones con las partes interesadas suizas en las materias primas
The meeting described as “useful for all parties” took place in Geneva on Monday between the Swiss commodities trading sector, representatives of the US Treasury and the State Secretariat for Economic Affairs (SECO).
It was a working meeting which focused on commodities trading and energy supplies for Europe over the next 18 months. The US embassy in Bern was also represented. The meeting took place against a backdrop of US criticism of Swiss implementation of sanctions against Russia.
The aim is to assess the situation on the commodities market in relation to energy supply and overall security of supply. The impact of sanctions against Russia on the commodities trading sector was also discussed.
The future of trading, oil price caps and food security were also discussed. The Swiss commodities sector was represented by Suissenégoce that represents the interests of trading companies, as well as transporters, banks, insurance companies and specialist service providers.
Switzerland is a key global platform for commodities trading. The sector contributes 4% of Switzerland’s GDP and employs 35,000 people, according to Suissenégoce.
In May the government stated that the war in Ukraine had profoundly disrupted commodities trading in the energy and food sectors. Swiss traders have been affected by the international sanctions imposed as a result of the war.
What do you think Switzerland’s Alain Berset can bring to the Council of Europe?
The former interior minister is to become the first Swiss Secretary General of the Council of Europe – which issues should his five-year term focus on?
How is your country dealing with the return of stolen artifacts?
Western nations like Switzerland often have to deal with the process of recovering or returning looted artifacts which have been illegally imported. What’s the situation like in your country?
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.
US adds Swiss ‘facilitators’ and firms to Russian sanctions list
This content was published on
Three Swiss citizens and two companies have been added to the United States sanctions list for supporting Russian Oligarchs.
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.