SWITZERLAND: SWISS GOVERNMENT INVESTIGATES FINAL DESTINATION OF PROCEEDS FROM SALE OF 150 KILOS OF GOLD IMPORTED FROM YUGOSLAVIA DURING PRESIDENT MILOSEVIC'S FINAL YEAR OF REIGN

Record ID: 646537

  • Title: SWITZERLAND: SWISS GOVERNMENT INVESTIGATES FINAL DESTINATION OF PROCEEDS FROM SALE OF 150 KILOS OF GOLD IMPORTED FROM YUGOSLAVIA DURING PRESIDENT MILOSEVIC'S FINAL YEAR OF REIGN
  • Date: 3rd April 2001
  • Summary: (U6)BERN, SWITZERLAND (APRIL 3, 2001) (REUTERS - ACCESS ALL) 1. LV: STATE SECRETARIAT FOR ECONOMIC AFFAIRS (SECO) BUILDING 0.05 2. ZOOM IN: NAMEPLATE READING SECO 0.17 3. SV: OTHMAR WYSS, SECO'S REPRESENTATIVE FOR EXPORT CONTROLS AND SANCTIONS, ENTERING HIS OFFICE 0.21 4. SV: (SOUNDBITE) (English) OTHMAR WYSS SAYING: "We have two inquiries.The first is about the import of 173 kg of gold and the second about the import of 100 kg of gold. We are only inquiring weather the payment of the gold was legal or not legal. It would be illegal if the payment went to a company controlled by the Yugoslav state." 0.46 5. SCU: (SOUNDBITE) (English) WYSS SAYING: "The inquiry was opened because the payment for the gold to a state-owned Yugoslav company would violate our embargoes against Yugoslavia." 0.58 6. SCU: (SOUNDBITE) (English) WYSS SAYING: "We just know that the gold was imported from the Bor mine, but we are not aware of any links to the former President Milosevic. Up to now at least we can't say that" 1.09 7. SV: (SOUNDBITE) (English) WYSS SAYING: "Two shipments of gold arrived before October 10 of last year. Two shipments later. So two shipments arrived anyway after the lifting of the sanctions. So what we are actually investigating of the first 173 kilos is whether the payment for one shipment -- made to a company in Cyprus -- went to a Yugoslav owned company. The question now is: is or was this company in Cyprus controlled by a Yugoslav state-owned company?" 1.43 8. SCU: (SOUNDBITE) (English) WYSS SAYING: "MKS bought the gold and paid for it and now we are just investigating if the payment was made to a state-owned Yugoslav company. 1.56 9. PULL OUT/SV: OTHMAR WYSS LOOKING THROUGH DOCUMENTS (2 SHOTS) 2.16 (U6)GENEVA, SWITZERLAND (APRIL 3, 2001) (REUTERS- ACCESS ALL) 10. VARIOUS OF EXTERIOR OF SWISS METALS TRADING AND REFINING COMPANY MKS FINANCE SA (3 SHOTS) 2.36 (U6) UNKNOWN LOCATION (FILE - NOVEMBER 1998) (REUTERS - ACCESS ALL) 11. VARIOUS OF BARS OF GOLD (2 SHOTS) 3.00 Initials Script is copyright Reuters Limited. All rights reserved
  • Embargoed: 18th April 2001 13:00
  • Keywords:
  • Location: BERN AND GENEVA, SWITZERLAND
  • Country: Switzerland
  • Reuters ID: LVAEOXO6PDQPPHOHAGZ83K5BTODO
  • Story Text: The Swiss government is investigating the final
    destination of proceeds from the sale of a total of 150 kilos
    of gold imported from Yugoslavia during former President
    Slobodan Milosevic's final year in power. Swiss officials are
    probing whether payments made their way to state-owned
    Yugoslav companies -- which would be a violation of sanctions
    in effect at the time.



    Two inquiries are under way in Switzerland into
    whether state-owned Yugoslav companies were the
    end-destination for proceeds from gold imported from
    Yugoslavia when former President Slobodan Milosevic still
    clung to power.

    Swiss State Secretariat for Economic Affairs (SECO) said
    an inquiry is under way to investigate the final destination
    of the proceeds from the sale of 42 kilos of gold. The
    investigation will also look into a series of shipments
    totalling 173 kilos, which was imported to Switzerland in
    autumn 2000 and processed by Swiss metals trading and refining
    company MKS Finance SA.

    Seco representative for export and sanction control Othmar
    Wyss said, "the inquiry was opened because the payment for the
    gold to a state-owned Yugoslav company would violate our
    embargos against Yugoslavia."
    Swiss customs have confirmed the arrival of four shipments
    of 173 kg of unrefined gold from Yugoslavia's Bor mines - one
    of 42 kg on September 21, another 42 kg on September 22, 59 kg
    on October 27 and 30 kg on November 2.

    Mr Wyss said '' what we are actually investigating of the
    first 173 kilos is whether the payment for one shipment --
    made to a company in Cyprus -- went to a Yugoslav owned
    company. The question now is: is or was this company in Cyprus
    controlled by a Yugoslav state-owned company''.

    "MKS bought the gold and paid for it and now we are just
    investigating if the payment was made to a state-owned
    Yugoslav company'', he said.

    Seco is also investigating the import of 110 kilos of gold
    valued at 1.6 million Swiss francs.

    There are no indications to date that the cash from the sale
    of this gold had gone to former President Slobodan Milosevic.



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