This is because the risks are too high for Swiss bank UBS, which recently took over its rival in a government-brokered merger.
It is not clear exactly which Russians are affected, the paper wroteExternal link. However, they are said to be primarily Russian offshore clients: clients with a Russian passport who live abroad and who are currently serviced by Credit Suisse from Switzerland on a cross-border basis.
UBS did not want to take a position on the issue, the NZZ am Sonntag said, but it did mention its lower appetite for risk than its former competitor. Moreover, it wanted to “anchor its risk management principles and corporate structure throughout the combined organisation” of UBS and Credit Suisse, it told the paper.
The bank’s decision would also affect other Credit Suisse clients in other regions, but to a lesser extent, according to the NZZ am Sonntag.
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Julius Bär to cut ties with Russian clients by 2024
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The Swiss private bank will end all business with clients based in Russia, it told them in a letter seen by Reuters on Tuesday.
Train vs plane: would you take a direct train between London and Geneva?
Eurostar is planning to run direct trains from Britain to Germany and Switzerland from the early 2030s. Would you favour the train over the plane? If not, why not?
Chihuahua leads Swiss rescue team to owner stuck in a crevasse
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A Chihuahua helped to rescue a man on the Fee Glacier above Saas-Fee VS on Friday. It alerted a rescue team to its owner who had fallen into a crevasse.
Swiss bosses distance themselves from the United States
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According to a survey of managers, Swiss companies are increasingly turning away from the USA and orientating themselves more towards Southeast Asia and the EU. This is the result of a recent survey.
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The Fête de l'Epouvantail (scarecrow festival) is celebrating its 30th anniversary and returns to Denens in canton Vaud for its seventh edition from July 10-20.
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A 35-year-old man has died in a work accident at the valley station of the Heimwehfluh toboggan run in Matten near Interlaken, canton Bern.
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The Swiss embassy in Tehran re-opened on Sunday after being closed on June 20 owing to the unstable situation in the country.
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Queen Maxima of the Netherlands and her youngest daughter Princess Ariane attended the Netherlands' women's European Championship football match against Wales in Switzerland on Saturday.
Swiss want to better protect military airfields from spying
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Swiss Defence Minister Martin Pfister says he wants to better protect Swiss military airfields against espionage activities.
Man charged with flying drone at women’s Euro 2025
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A man flew a drone around the venue on Wednesday evening during the first match of the Women's EURO 2025 in St. Gallen. The 30-year-old violated the absolute ban on flying during match days. He was reported to the police.
More than 250 Swiss companies sign CO2 reduction initiative
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A total of 257 companies from Switzerland have signed up to the Science Based Targets Initiative (SBTi). In doing so, they are committing to CO2 reduction targets that are compatible with the Paris Climate Agreement.
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.
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US authorities investigate Credit Suisse and UBS over Russian sanctions
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Credit Suisse and UBS are among a group of banks under investigation for allegedly having helped some Russian oligarchs to evade financial sanctions.
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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.