Switzerland will impose the same sanctions on Russia as the European Union, according to President Ignazio Cassis, who described Russia’s invasion of Ukraine as being driven by “devastating madness”.

Cassis added that Switzerland is ready to pay the price to defend freedom and democracy, but stipulated that the country’s neutrality was not at stake. The President said Switzerland couldn’t stand by in the "confrontation between democracy and barbarism.”

"On February 24, the face of the world changed, and not in a good way. We must valiantly and tirelessly defend freedom and democracy. This has a price. A price that Switzerland is ready to assume", Cassis wrote in Le Temps newspaper.

"This war is driven by a devastating madness which shatters all the principles and values of our civilisation."

Although the threat of an economic downturn or crisis was not on the cards for now, the President did say the war would have an impact on Switzerland’s economy.

Cassis went on to add that Switzerland would have to cope with "sustained and significant inflation and rising energy prices", whilst the Swiss Franc would stay a safe haven, affecting exports.

"There is no solution which, with a wave of a magic wand, would save Switzerland from the consequences resulting from the current situation", he stated.

He said the country wouldn’t send military support to Ukraine, but neutrality could not signify indifference.

"Switzerland cannot tolerate this war without reacting," he said. "Russia has massively violated the prohibition of the use of force, a principle anchored in international law. By remaining inactive, Switzerland would have played the game of the aggressor."