The greatest espionage threat to Switzerland currently comes from the Russian intelligence services, the Swiss Federal Intelligence Service’s (FIS) says in its latest report. The threat to Switzerland from the Chinese intelligence services is also high. Numerous services maintain covert bases in Switzerland, known as residencies. These usually operate out of diplomatic missions.
The war against Ukraine and the escalating power political confrontation worldwide have increased the hybrid threat to countries including Switzerland, in particular from Russian influence activities. As far as the issue of proliferation is concerned, Russia’s attempt to circumvent Western sanctions via private companies in third countries poses a major challenge to Swiss export controls on dual-use goods subject to licence.
Violent right-wing and left-wing extremist groups are continuing their activities as normal, the report also says. The threat posed by both violent right-wing and violent left-wing extremism has stabilised at a heightened level.
This is somewhat related:
A survey of Swiss banks has highlighted international sanctions imposed on other countries, such as against Russia over Ukraine, as the greatest geopolitical risk to their business
And:
Switzerland praises China-Brazil peace plan for Ukraine