@georgeob1,
georgeob1 wrote: Germany and Italy are resisting the imposition of truly serious banking sanctions on Russia.
The EU's most severe sanctions sword is not to be included in the current ones due to the opposition of Germany, France, Italy and some other member states: the exclusion of Russia from the banking communications network Swift, which would effectively cut off Russian banks from the global financial system.
Switzerland insists on its neutrality. It follows from this that no sanctions of its own will be imposed.
In this way, all those affected have the possibility to circumvent the sanctions via the diversions to Switzerland.