The Swiss government, in its first official comments, shrugged off Wednesday a multi-billion-dollar lawsuit against two Swiss banks accused of propping up South Africa’s apartheid regime.

Controversial U.S. attorney Ed Fagan filed a lawsuit in a U.S. court last week on behalf of four apartheid victims, seeking up to $50 billion in damages from Swiss banks Credit Suisse Group and UBS AG as well as U.S.-based Citigroup Inc.

“It is not up to the government to comment on the justification of such a suit,” government spokesman Achille Casanova told journalists in the Swiss capital.

“But the government believes that this kind of class action suit before a U.S. court is not the right way to resolve the political problems of other countries,” he added.

“In our regular official contacts between Switzerland and South Africa there were also no hints that South African authorities would support such class action suits,” he said.

The sweeping lawsuit alleges the banking companies helped finance the violent apartheid regime and made billions in desperately needed loans to further the politically isolated and cash-strapped government’s crimes against humanity.

Swiss bankers said at the time they disapproved of apartheid but that neutral Switzerland’s refusal to join international economic sanctions against South Africa prevented them from taking unilateral measures.

Reuters, June 26, 2002