Switzerland adopts latest EU sanctions against Russia

Liquified petroleum gas, among other things, is targeted by the latest sanctions round. Keystone / Marcus Brandt

The new measures, which come into force on February 1, include a gradual ban on the purchase and import of Russian diamonds, as announced by the Swiss government on Wednesday.

The 12th package of European Union (EU) sanctions against Russia, which was adopted by Brussels on December 18 last year, also includes a ban on the purchase and import of pig iron or liquefied petroleum gas (LPG) from Russia, the government said. According to the EU Commission, the ban on LPG of affects imports totalling more than €1 billion (CHF930 million) per year.

The lists of banned export goods that could contribute to the military, industrial and technological strengthening of Russia have also been expanded. The export and sale of chemicals, lithium batteries, certain engines for drones and certain machines to Russia are now prohibited.

The list of companies subject to specific restrictions on goods with civilian and military applications has also been expanded.

+ Read more: Why do some Russian drones still contain Swiss components?

According to the press release, the government is refraining for the time being from introducing a reporting obligation for money transfers by natural and legal persons from Russia who have a company based in Switzerland. However, such an obligation, as has been introduced in the EU, is being examined, it said.

In December, Switzerland added 147 further individuals, companies and organisations from Russia and Belarus to its sanctions list. The adoption of the sanctions is a reaction to “Russia’s ongoing destabilising actions that undermine the territorial integrity, sovereignty and security of Ukraine”, the government said.

Ukraine has been fending off a large-scale Russian invasion since February 24, 2022.

Translated from German by DeepL/dos

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