On Wednesday, the Federal Council of Switzerland made the decision to impose sanctions against Russia in accordance with the latest, 11th package of restrictions adopted by the European Union.
This was announced in a statement by the Federal Council of Switzerland.
In June, Switzerland partially implemented the EU sanctions package, adding over a hundred individuals and legal entities to its own blacklist. From the evening of Wednesday, June 16, additional measures will come into effect.
These measures include, among others, a ban on exporting dual-use goods and goods that contribute to Russia's military-technical strengthening to 87 more companies, including companies from third countries that supplied such goods to Russia.
Furthermore, the list of goods subject to export bans to Russia and transit through it will be expanded. Sales of intellectual property rights and commercial secrets related to sanctioned goods to Russia will also be prohibited. In the financial sector, Switzerland is extending the ban on selling securities denominated in Swiss francs or in the official currency of EU member states to Russian citizens and legal entities.
Switzerland has consistently joined all restrictions imposed by the European Union against Russia in connection with its full-scale invasion of Ukraine.
"Effectively stopping attempts to circumvent sanctions requires close international coordination. Switzerland is closely following international discussions on this topic and is working closely with the EU and other partners. It participates in a wide variety of meetings and formats, for example in various subgroups of the EU Freeze and Seize Task Force, the Sanctions Coordinators Forum in Brussels in February, the Switzerland-UK Sanctions Dialogue and the EU-Switzerland Sanctions Dialogue in April."
