Switzerland has imposed financial sanctions on Russian President Vladimir Putin, Russian Prime Minister Mikhail Mishustin and Foreign Minister Sergey Lavrov, reports Interfax-Ukraine.

“Switzerland is also introducing the sanctions imposed earlier by the EU against Russian President Vladimir Putin, Prime Minister Mikhail Mishustin and Foreign Minister Sergey Lavrov. They come into force immediately,” President Ignazio Cassis quoted the decision of the Swiss Federal Council.

The Russian financial sector is collapsing under heavy western sanctions. The ruble has fallen sharply against the major currencies. Russians are storming ATMs out of fear of losing their deposits. The Russian Central bank has doubled its interest rate and the shares of Russia’s biggest bank, Sberbank, have fallen by 73%.

(C)UAWIRE 2022