The State Secretariat for Economic Affairs (Seco) has launched an investigation into Open Mineral, a commodities trader based in Baar. The company is suspected of violating sanctions against Russia in relation to gold, Reuters reported on Friday. Open Mineral allegedly traded the precious metal from Russia, violating sanctions against Moscow after the start of the military invasion of Ukraine. +Get the most important news from Switzerland in your inbox Contacted by the AWP news agency, the company confirmed it was under investigation. "Last week the authorities searched our premises as part of an investigation into business operations that took place in 2022." The company announced that it had cooperated with the authorities and would continue to do so. Business activities continue as usual. For its part, Seco confirmed to AWP that a house search took place on September 11 in the canton of Zug. "The proceedings are currently being directed against two people and against unknown ...
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Swiss firm suspected of violating gold sanctions against Russia
Published on September 20, 2025
Permanent link to this article: https://snbchf.com/2025/09/swiss-firm-suspected-violating-gold-sanctions-against-russia/
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