Swiss mediation tested amid US sanctions on Iran and Russia

The United States is moving to cut off a Swiss bank over alleged money flows linked to Iran and Russia, signaling tighter scrutiny on financial channels that may be helping sanctioned states. At the same time, Switzerland has closed its embassy in Tehran but is keeping open its traditional diplomatic channel between Washington and Tehran. Together, these developments highlight how Switzerland’s historic role as a neutral mediator and financial hub is coming under pressure. The decisions could reshape both back-channel diplomacy and the global enforcement of sanctions on Iran and Russia.