Prince Albert has confirmed that the Principality of Monaco will be joining other Western nations in imposing sanctions on Russia over its invasion of Ukraine.
Monaco will also freeze the assets of the many wealthy Russians who use the city-state as a haven for cash.
The statement from the Royal Palace said Prince Albert of Monaco, a rumored close friend of Russian President Vladimir Putin, strongly condemns the invasion of Ukraine.
The prince is calling on Putin to order an immediate ceasefire.
However, Albert’s move to freeze assets will likely turn more Russian oligarchs against Putin.
“In accordance with its international obligations, the principality immediately adopted and launched a procedure of asset freeze and imposing economic sanctions against Russia, identical to those adopted by most European countries,” the palace said in a communique.
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CNN reporter Jim Sciutto said: “A headline to make the oligarchs shudder: Monaco to freeze assets & impose sanctions on Russians
“Prince Albert said Monaco has “adopted & implemented without delay procedures for the freezing of funds & economic sanctions identical to those taken by most Euro States.”
A headline to make the oligarchs shudder:#NEWS: Monaco to freeze assets & impose sanctions on Russians
Prince Albert said Monaco has “adopted & implemented without delay procedures for the freezing of funds & economic sanctions identical to those taken by most Euro States.”
— Jim Sciutto (@jimsciutto) February 28, 2022
As Slay News previously reported, Switzerland also abandoned its historic neutrality and joined the sanctions against Russia.
Swiss Justice Minister Karin Keller-Sutter said the sanctions will impact “oligarchs of Russian or Ukrainian nationality who are particularly close to Russian President Vladimir Putin.
“These are five persons with strong economic connections into Switzerland.”
Swiss Federal President Ignazio Cassis said:
“The Swiss Federal Council has decided today to fully adopt EU sanctions.
“It is an unparalleled action of Switzerland, who has always stayed neutral before.
“Russia’s attack is an attack on freedom, an attack on democracy, an attack on the civil population, and an attack on the institutions of a free country.
“This cannot be accepted regarding international law, this cannot be accepted politically, and this cannot be accepted morally.
“To play into the hands of an aggressor is not neutral. Having signed the Geneva convention of human rights, we are bound to humanitarian order.
“Other democracies shall be able to rely on Switzerland; those standing for international law shall be able to rely on Switzerland; states that uphold human rights shall be able to rely on Switzerland,” he said.
“Switzerland reaffirms its solidarity with Ukraine and its people; it will be delivering relief supplies for people who have fled to Poland,” the government said.
“In view of Russia’s continuing military intervention in Ukraine, the Federal Council took the decision on February 28 to adopt the packages of sanctions imposed by the EU on February 23 and 25.”
Monaco clamps down on Russian assets after Ukraine invasion. This is a headline I could have never imagined reading. Prince Albert was one of Putin’s best friends. https://t.co/ro7P0RE2A8
— Bill Browder (@Billbrowder) February 28, 2022