Swiss step up financial and trade sanctions against Belarus

The president of Belarus, Alexander Lukashenko (left) and Russia's President Vladimir Putin during a recent meeting in Moscow. Keystone/Mikhail Klimentyev/Kremlin Poo

Switzerland has extended economic sanctions against Belarus in line with a decision by the European Union.

The government said the provision of public financing or financial assistance for trade with or investment in Belarus is prohibited as of midday on Wednesday.

Other restrictions concern securities, loans and the acceptance of deposits. Transactions with the Belarus central bank are also no longer permitted.

The export of all dual-use material (civilian or military) as well as goods for the country’s defence and security sector has been banned.

It is also prohibited to provide technical assistance, brokering services or financing to Belarus, according to a government statementExternal link.

In addition, Switzerland has extended existing import bans from Belarus to include wood products, products made of rubber, iron and steel as well as cement.

Exceptions are only allowed for humanitarian reasons, according to the government statement.

The measures are similar to those already imposed on Russia by the EU and Switzerland, the government said.

Switzerland enforced a previous set of sanctions against Belarus last August in response to the deteriorating human rights situation in the country.