Holocaust Sanctions Imperil U.S. Ties

Threats by U.S. cities and states to boycott Swiss banks over their handling of Holocaust victims’ accounts could disrupt U.S.-Swiss relations and trigger a free-trade dispute, said officials in the capital, Bern. Swiss banks, meanwhile, considered whether to revoke a blanket offer of $600 million to settle Holocaust-era claims. Bern said that it will support Swiss firms that took legal steps against U.S. sanctions and that it was considering other measures, including filing a complaint to the World Trade Organization. The banks themselves raised the prospect of suing any U.S. states or cities that impose sanctions.