The cabinet decided on Wednesday that the new measures adopted by the European bloc on June 23 would take effect later in the day in the Alpine country.
Switzerland, which is not a member of the 27-country bloc, is a key EU trading partner and has followed every set of its sanctions against Russian companies and individuals since Russian President Vladimir Putin launched an invasion of Ukraine in February last year.
The 11th round of sanctions aims to close loopholes so that goods vital to Putin’s war effort don’t get through to Russia by way of countries that trade with the EU and have maintained a business-as-usual relationship with Moscow.
The multiple rounds of sanctions have affected banks, companies and markets, and even parts of the sensitive energy sector. More than 1,000 officials are subject to asset freezes and travel bans.
Switzerland on June 28 implemented sanctions on more than 100 other companies and people after the EU’s move days earlier and will adopt the rest of the 11th-round sanctions “that are relevant to Switzerland” on Wednesday, the government said.
The Swiss measure will ban exports of some “dual-use goods” – i.e. with possible civilian and military uses – to another 87 companies, and some types of electronic components and precursors to chemical weapons will also be affected, the government said.
“In the financial sector, the existing ban on selling securities denominated in Swiss francs or in an official currency of an EU member state to Russian nationals and entities was expanded,” it said. “The sale of securities to Russian citizens and entities is now prohibited, regardless of the currency.”
Popular Stories
More
Identities
Switzerland’s most renowned trans person no longer wants to be a woman
Report finds serious security flaws in Swiss hospital information systems
This content was published on
The IT systems of several Swiss hospitals suffer from serious security flaws, according to the National Testing Institute for Cybersecurity (NTC).
Cost of leisure activities rises dramatically in Switzerland
This content was published on
The Swiss paid more for leisure activities in December. Prices for vacation apartments, package tours and cable cars rose significantly.
New Swiss epidemic surveillance centre inaugurated
This content was published on
The Centre for Pathogen Bioinformatics was inaugurated in Bern on Thursday. It aims to improve epidemics monitoring in Switzerland using genomic data.
This content was published on
Switzerland, as a member of the European Free Trade Association (EFTA), signed a free trade agreement with Thailand during WEF.
This content was published on
The federal audit office has criticised the Swiss government for poor planning of the procurement of six drones from an Israeli supplier.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.