this is d to we vis nissan robots in berlin. welcome to the program. is perhaps the toughest sanction the west has levied against russia. around 70 percent of its banks and financial institutions have been cut off from swift. the system used by banks to send money across borders. it is a move that's impact reaches well beyond russia itself. many banks in the u. s. the e u and the u. k. have given loans to russian firms who can now no longer service them. it's unclear exactly how much banks have loaned to russian companies, but the experts are putting this number somewhere in the 10s of billions of yours. then there is, of course, the potential for sovereign debt default. russia's central bank can't access its assets abroad on his own course to miss re payments to its creditors. now russia currently owes nearly $50000000000.00 to lenders in the west. payments are due within the next 2 weeks, one for

a $100000000.00 in interest. another of over $2000000000.00 among the countries levying sanctions on russia is switzerland. it's an unprecedented step for the financial hub that pride itself on staying neutral, but it's still being urged to take further action. to reach is one of the world's most expensive places, and that's a no small part you to russian. oligarchs, happy to invest their money here. rudolph, elma, used to be a top banker at the venerable sewerage bank. you'll your spare to day. he is a critic of these financial institutions who came to international prominence as a wiki leaks whistleblower in this wifi guilt. angelique, while a lot of money is invested in switzerland because banking secrecy protects the oligarchs. we have a strict secrecy long. i'm halted because it's the government politicians and the judiciary support. this is because it is a huge source of income for the swiss estate thing tried to stop russia's brutal

war against ukraine has put worldwide pressure on switzerland to respond. it's likely one of the reasons why the government here has backed the sanctions, saying russian oligarchy should no longer be able to access their assets here. but elmer is skeptical, and some field will move me to which linda was slow to introduce sanctions. and that keep the old guard plenty of time to shift their fortune somewhere else, concealing the origin of money as a long tradition in switzerland homes pocket the can for this means that the actual owner is disguised via trust in the cayman islands or companies or whatever called in such a way that you don't really know who's behind on the spice. the swiss bankers association rejects the accusation, saying the sanctions would be strictly observed if it were staying. it's important to understand that these sanctions obliged banks to report russian customers to be your thirty's is what i did. the banking secrecy is never absolute. it can be effected by a legal obligation to provide information. and that is also the case with these

sanctions because it's concrete, you parties in some small sam after fall rushes guys from bank and spare bank, seen here and serious are exempt from the sanctions that allows you. countries like germany to still be able to buy russian oil and gas through them. but public criticism is growing, spare bank and theory has covered over its logo and lowered window blinds for fear of protests. the swiss n g o public eye has long criticized the russian banks, and now it says they're playing a critical role in moscow's war. this is not to this, this is, of course, a substantial part of bloody amir putin, this war chest cooking. he calculated it that way from the start. how could you and also anticipated that this money, at least, would continue to flow. we're talking about a $1000000000.00 a day or 280 percent of which comes from swiss commodities trading platforms said one of the data centers for the swift bank payment system is very close to 0. it's

currently under a heavy guard for fear of russian sabotaged. but elma doesn't think our complete russian cut off from swift would be that dramatic for russia is keep the sheet in american sky. there are various ways of getting around this, like inter company deal, the banks holding bank accounts and other banks and trade shortcut, as well as part or transactions house cuz there are many variance. you have to see that this payment transaction business has become even more lucrative all day due to the sanctions of kentucky on rudolph elma, now lives in seclusion near situation. but he hasn't stop criticizing switzerland's, financial institutions and authorities. he's demanding strict laws for better monitoring of the financial center, but so far says he see no willingness in the government to take action or love in speaking to you or rocco, who's president of the european school of management and technology, s m t, berlin. i asked him how surprising it was that switzerland have joined the you in

sanctioning russia. the fact that switzerland joined. it's certainly just representing the overall observation that we have at this point of time. that there's such a strong unified approach across on countries that no one could escape. and in particular, we've seen in the past at any bank, the 5 weeks came on base or convent sanctions has been penalized heavily by, in particular us authorities. so therefore, it might be a little bit surprising, but in light of your development and also invite all what we see as tells you the path is maybe not surprising. is it a big blow to the russian banking system to have these sanctions from switzerland, in particular, given the role that it, it plays with it's much stricter secrecy laws. this is certainly a lot russian banks,

but maybe it's even more low in the asset management part. so this means if, well, the russians put their money to now they are sanctioned as well. swiss banks are extremely careful in now operating on the level with any rational clients. and thus it becomes also more difficult to withdraw private money problems with the father purposes. this is sort of changed though, could last for a long time. what, what, what was the feeling with these sanctions, the, they going to be in place forever. and russians determined to have to find a new way to move that money around and indeed move their exports. i saw the 2 elements for so i would expect the sections to be in place for the foot of your job. but there's another aspect. and maybe this epic might become more important. so in the long run, which is the bolting by feet mechanism that we see. now, we've seen that many western companies,

even companies that were not restricted to do so by the sanctions. they actually thought it was drawing their business from russia that also western companies don't want to work anymore, which would say russians to senior rates in europe in the united states. and this voting by feet as taking really a very massive, a very strong movement of the last 2 weeks. and this is something that my view has not seen yet, but rather will continue. and then it would be very hard to reverse this decision. in particular, we see now if the russian government even wants to nationalize to expropriate the assets, that's western companies have less leslie russia. yeah, it's made a change for russia that keeps getting worse because it keeps getting more and more isolated from the rest of the world. and indeed, it's looking less and less likely the rush is going to be able to pay its debts to its foreign creditors. default look, so almost certain doesn't it?

yes, indeed, the rating agencies have now made very clear statements that russian sovereign debt is at john status. both who are not clear anymore whether even if russia did have the money, whether they would be willing to pay so that they basically voluntary be they are all. this is why the more of the linkages of the international financial systems to russia will be stopped. and it will even isolate russia more in many different ways . and the financial system is certainly a product of his best way for jack rochel, president of the european school of management and technology in berlin. now, the ukranian president for laudermill is de lensky urged the u. k, to do more, to help russia financially when he addressed the british parliament this week. london is seen as a key front in the economic battle with large amounts of russia money flowing

through the u. k. capital each year. but could it be about to shed its reputation as an oligarchy? playground, from their big mass reports. we have an appointment at the ritz. one of the swankiest addresses in london with bill browder. he was once one of russia's top foreign born investors, but quickly became an opponent flooded me, a putin before being expelled from the country. he is now living in london and has one of the kremlin st biggest critics. britain has been a soft spot for dirty russian money for last 20 years. they've come here and they, they like the rule of law. they like the property rights. and they like the fact that nobody's going to ask any questions. we're heading to the post district of berg ravia to eat and square, nicknamed red square, asking prices for a 5 bedroom flat here, which over $20000000.00 euros. as for who the real owners are. no one needs to know

anti corruption activists estimate that russians with ties to putin have invested almost 2000000000 euros in real estate alone. in recent years. there are shells, shell companies and trusts in offshore crossen nominees and proxies. all i'm working hard to shield the through ownership of these properties. it's on the capital nickname, london road. a city a wash with money from the many rich russians who call it home. and not all of them have earned income. honestly. this week, the british parliament is passing a new lot, cut the crop slow of money from russia to untangle opaque ownership stretches. but this is only a 1st step. experts say legislation is just not enough. enforcement needs to be happen and it needs to be properly with funding on vessels. what happens right now is that the national crime agencies has been on the funded for up

a generation. so what we need to see now is for life with men agencies to be funded, to act now and use a tool that they are given at the moment job security personnel on eton square try to prevent us from recording. well, when you're talking to her, mom is a democracy and we, despite us having the right to film on the street to sound if you want to, you can, but we can throw mostly like 1st and foremost, i'd like to see 100 oligarchs on the sanctions list having their properties frozen . secondly, i'd like to see assets identified and frozen after that. and, and thirdly, i'd like to see all of the russian banks, not just a few of them disconnected from swift. his criticism also has a personal motivation, browed, his friend and company lawyer died in the russian prison, his long known how dangerous vladimir putin is. russian oligarchs, and in fact, any one else who wanted to launch the money have so far been serve as well in

london. it's been easy to find bankers, lawyers, estate agents to work with i, when it comes to property, it's impossible to hide behind. sophisticated shell stretches open within an offshore trust critics or wondering whether it's taken a war in europe for the u. k. government to seriously change that peggy mass in london forest there. and that's all from us for now until next time. ah, ah, with

a conflict with sebastian has nato accepted that ukraine will fall, or could it still see a moral imperative to intervene directly in combat? my guest this week from washington, wisconsin, a foreign and security expert at the brookings institution. i'm a freshman from germany and friends with landtech relation, conflict zone, 90 minutes on d, w. i making the headlines and what's behind them. dw news africa. the show that was the issue in the continent. life is slowly getting back to normal year on the streets to give you in the report on the inside our correspond that was on the ground reporting from across the continent and all the trend stuff . the mazda u. t. w is africa every friday on dw,

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learn respect. ah ah, this is did every news line from berlin? hell ski russia widens it's aerial bombardment of you, great. it a new target, some pummeling cities already under siege. the city of ne pro, in central ukraine bomb for the 1st time in this war, troops edging closer to the capital keep, while hundreds of thousands remained trapped in the port city of multiple, amid heavy bombardment. and then safe at last after days of heavy shelling and broken.