Switzerland bans donations from the Russian government
Published: Wednesday, Oct 16th 2024, 16:40
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Switzerland has further tightened its sanctions against Russia due to the war in Ukraine. Among other things, political parties, NGOs and the media are now prohibited from accepting donations from the Russian government.
This is intended to limit Russia's influence on democratic processes in Switzerland, as the Federal Council announced on Wednesday. However, exceptions are "provided for the exercise of the right to freedom of expression, information and the media".
At its meeting, the government decided to adopt most of the EU's sanctions measures from June of this year. The new measures come into force on Thursday. There are currently 2,250 natural persons, companies and organizations on the sanctions list in connection with the war in Ukraine.
Tightening of military and industrial sanctions
The new decision would also further tighten export restrictions on goods to strengthen Russia's industry, military and technology, it said. The list of companies affected by stricter export restrictions will be expanded to include 61 entities. Around half of them are located in third countries and are linked to the Russian military.
Furthermore, banks will be prohibited from using alternatives to Swift for payment transactions in future. Institutions that offer crypto services and facilitate transactions to support the Russian defense industry will also be banned.
Investments in liquefied natural gas projects under construction in Russia will also be prohibited. Services in connection with the onward transportation of Russian liquefied natural gas will also no longer be permitted.
Protection of Swiss companies
In addition, 27 ships that deliver military goods to Russia, transport plundered grain or circumvent the price caps for Russian petroleum products may not be purchased or operated. And no financial services may be provided to the operators.
The Federal Council has also created the legal basis for Swiss companies to assert claims for damages in Swiss courts if they have suffered losses in Russia as a result of lawsuits, sanctions or expropriations.
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