EconomyLens.com
No Result
View All Result
Wednesday, July 1, 2026
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Business

Swiss government eyes dropping purchase of US Patriot air defence system

Natalie Fisher by Natalie Fisher
April 1, 2026
in Business
Reading Time: 5 mins read
A A
1
41
SHARES
515
VIEWS
Share on FacebookShare on Twitter

Switzerland had ordered five Patriot systems in 2022. ©AFP

Geneva (AFP) – The Swiss government is considering dropping the agreed purchase of the Patriot air-defence system from the United States amid severe delivery delays, Defence Minister Martin Pfister said Wednesday. “Cancellation is always an option in the event of a delay,” he told the ATS-Keystone news agency. Earlier Wednesday, the defence ministry announced it would continue suspending payments for the system “until the United States has firmly announced new delivery dates and payment deadlines.”

Related

Trump defends earning more than $1bn on crypto

Ride-share group BlaBlaCar taps AI for 20-country expansion

Ultra-wealthy Chinese exile in New York sentenced to 30 years for fraud

EU hits France’s Sanofi with flu vaccine antitrust probe

US Supreme Court hands win to Bayer in weedkiller litigation

Switzerland, which is not in NATO, had ordered five Patriot systems in 2022, with delivery scheduled to begin this year and to be completed in 2028. But last July, the government said it had been informed by the US defense department that the deliveries to Switzerland would be delayed as Washington strived to provide more support for Ukraine. Switzerland first suspended its payments for the system last autumn. “We are still operating on the assumption that we will receive the delivery, but we don’t know when,” Pfister said, adding that the government was mulling various options. “A possible cancellation is one of them, but we don’t know the conditions,” he said.

– Unauthorised payment –

Last week, the Swiss government said the United States had circumvented the freeze on its payments for the Patriot system by dipping into Swiss payments into the same fund but intended for its purchase of a fleet of F-35A fighter jets. This manoeuvre was authorised, head of the Swiss armaments department, Urs Loher told Swiss media. However, “if the fund’s liquidity falls below a critical threshold, projects may be suspended or even abandoned in the event of a further decline,” the Swiss defence ministry said in Wednesday’s statement. “This could affect not only the acquisition of the Patriot system but also the entire Swiss portfolio within the framework of the (Foreign Military Sales) programme with the United States,” it warned.

The ministry noted that Washington had said it would inform Switzerland in the coming weeks about the next steps in the operation, delivery schedules and the costs and consequences of a potential interruption. According to its statement, a recommendation on this matter will be submitted to the government “by the end of June, 2026.” In early March, Bern announced its intention to examine the acquisition of an additional long-range surface-to-air missile system, preferably manufactured in Europe, to complement the Patriot system. Last month, the government also said that it now wanted to buy only 30 F-35A fighter jets instead of the 36 ordered, after Washington last year hiked the price tag, citing high inflation and surging raw material and energy prices.

© 2024 AFP

Tags: defensemilitarySwitzerland
Share16Tweet10Share3Pin4Send
Previous Post

Stocks rally, oil drops on Mideast war optimism

Next Post

IndiGo lands IATA chief Willie Walsh as new CEO

Natalie Fisher

Natalie Fisher

Related Posts

Business

Easyjet rejects latest takeover bid but leaves door ajar

June 25, 2026
Business

Germany sinks troubled warship project in blow to naval ambitions

June 25, 2026
Business

S.Korea chip giant SK hynix seeks $29 bn in Nasdaq listing: regulatory filing

June 24, 2026
Business

Heineken names new CEO after predecessor’s shock departure

June 23, 2026
Business

Starmer resigns as UK PM, Burnham favourite to take over

June 22, 2026
Business

France, Germany reach deal on arms maker KNDS, paving way for IPO

June 22, 2026
Next Post

IndiGo lands IATA chief Willie Walsh as new CEO

Starmer says UK to host multi-nation meeting on Hormuz shipping

Chelsea announce record pre-tax loss of £262.4 million

War in the Middle East: latest developments

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
1 Comment
Oldest
Newest Most Voted
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

New York ruling deals Trump business a major blow

103

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

European stocks mostly drop with eyes on US Fed

July 1, 2026

China imposes ‘national security’ rules on overseas investments

July 1, 2026

US govt lifts restrictions on powerful AI models, Anthropic says

July 1, 2026

Asian stocks mostly up as traders eye crucial US jobs data

July 1, 2026
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.