Switzerland implements expanded sanctions against Russia

Swiss authorities responsible for sanctions have updated the sanctions list, which incorporates additional Russian individuals and entities. These measures mirror those decided by the EU. Keystone / Maxim Shipenkov

Switzerland will enforce a newly expanded sanctions list targeting Russia, aligning with the European Union's (EU) 11th sanctions package.

The sanctions will be effective from 6pm on Wednesday, June 28. Swiss authorities responsible for sanctions have notified the Federal Council of the updated sanctions list, which incorporates additional individuals and entities. These measures mirror those decided by the EU on June 23. The EU has also introduced additional measures,

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The EU’s latest sanctions, imposed on June 23, include financial and travel restrictions on 71 individuals and 33 entities. The targets encompass those involved in facilitating the illegal deportation of Ukrainian children to Russia, members of the Russian armed forces, key representatives of state-controlled Russian media, and individuals affiliated with the Wagner Group. Switzerland is required to freeze the assets of these individuals and entities and report the details to the State Secretariat for Economic Affairs (Seco). Furthermore, entry or transit into Switzerland will be prohibited for the sanctioned individuals.

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Simultaneously, Switzerland will incorporate the amendments made by the EU on March 13, which involve the removal of listings for three deceased individuals and two duplicate listings. Consequently, Switzerland’s sanctions list in response to Russia’s military aggression against Ukraine will be aligned with that of the EU.

On June 23, the EU also strengthened existing sanctions against Russia and introduced measures to prevent circumvention of the sanctions. The Federal Council was briefed on these changes and the timetable for adopting the new measures during its meeting on June 28.