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Russian billionaire Vekselberg is fighting in Berne courts on his Postfinance account
Want to keep your account: Viktor Vekselberg Bild: cornerstone / watson
A process has been initiated in the Berne Commercial Court in which the Russian investor Viktor Vekselberg, who lives in Switzerland, and Postfinance AG are facing each other. Vekselberg wants the process to make Postfinance give him an account.
As can be seen from the court documents, the subject of the dispute is the continuation of the business relationship. Specifically, it is a private account in Swiss francs. Vekselberg is the plaintiff, Postfinance AG is the defendant.
Attorney Vekselbergs said Tuesday morning after the trial started that Postfinance refused to keep a Vekselberg account in reference to US sanctions against Russian oligarchs. You need an account to earn a living and, for example, to pay taxes.
Postfinance has an order for the basic service and must provide an account to people living in Switzerland.
Postfinance’s attorney responded that it was controversial whether Postfinance could make use of an exception to this basic mandate. Postfinance believes that this is the case.
Postfinance runs the risk that if the institute facilitates or executes a significant transaction for Vekselberg, the secondary US sanctions will take effect. This risk must be eliminated, and that is only possible without an account.
In April 2018, the Trump administration imposed sanctions on seven Russians, including Vekselberg, who lives in Zug. Washington accuses them of getting rich off the Kremlin’s authoritarian and anti-Western policies. After the sanctions, Vekselberg cut his stake in Swiss industrial groups so they could escape US sanctions.
Vekselberg is not present
The trial in the Bern office is conducted without Vekselberg. According to the court order, he only had to appear if he wanted the court to question him. So that’s not the case. Vekselberg is represented by a Zurich lawyer.
Five witnesses will be questioned Tuesday, including four Postfinance AG employees. The court meets in a three-person cast and wants to announce the ruling on Wednesday after the attorneys’ final conferences, but possibly later. (aeg / sda)
