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Konrad K Häuptli

ABOUT THE AUTHOR

Konrad Häuptli graduated from the University of Berne, qualified as an attorney-at-law and was admitted to the Bar of the Canton of Berne. He joined HSBC in 2002 after working with Swiss Re for over 20 years. He then went on to work for KENDRIS in 2016 after retiring as former CEO of HSBC’s Trust Companies in Switzerland. Konrad Häuptli is a member of the Advisory Board of the Swiss Association of Trust Companies (SATC) and is also a member of mixed expert groups representing SATC. He has been managing family assets and has been involved in entrepreneurial activities, board assignments as well as private equity investments.
Memorandum of Understanding (MoU)

by Konrad K Häuptli | May 19, 2025 | News from Berne

The case

According to NZZ the United States and Switzerland have signed a Memorandum of Understanding (MoU) to enhance cooperation in implementing sanctions, particularly those targeting Russia.

Source: U.S. Department of the Treasury and NZZ today

The commentary

The agreement, finalized on May 9, 2025, aims to improve information sharing and coordination between the two countries on sanctions enforcement.

The U.S. Department of the Treasury announced the MoU, highlighting its focus on combating sanctions evasion and supporting the enforcement of measures. Link. While Switzerland’s State Secretariat for Economic Affairs (SECO) has not yet officially commented on the agreement, it is understood that the MoU does not impose new legal obligations but signifies a commitment to closer collaboration.

This development is notable given Switzerland’s traditional stance of neutrality and its cautious approach to international sanctions. In recent years, Switzerland has aligned more closely with European Union sanctions against Russia, including asset freezes and export bans. The new MoU with the U.S. marks a further step in Switzerland’s engagement with international sanctions enforcement.

This publication has been prepared solely for information purposes and is does not constitute a recommendation, a solicitation, or an offer. The information on which this publication is based has been obtained from sources that we believe to be reliable and in good faith, but we have not independently verified such information and no representation or warranty, express or implied, is made as to its accuracy. All expressions of opinion are made as of the date of publication and may be subject to change without notice. k-flash and all related affiliates accepts no liability or responsibility whatsoever for any consequential loss of any kind arising out of the use of this publication or any part of its contents. The use of this publication should not be regarded as a substitute for the exercise by the recipient of his or her own judgment. This publication is not directed to any person in any jurisdictions that prohibit such publication.
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