The Federal Council Implements the Eleventh Sanctions Package of the EU Against Russia
Published: Wednesday, Aug 16th 2023, 15:00
Updated At: Friday, Oct 13th 2023, 14:12
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The Swiss government has implemented additional sanctions against Russia in response to the EU's sanctions imposed on June 23rd. These new measures will come into effect on Wednesday evening. The sanctions include an export ban on dual-use goods and goods for the military and technological strengthening of Russia to 87 additional companies, including companies from third countries. The list of goods subject to an export ban has also been expanded, for example by electronic components and precursors for chemical weapons. In addition, the sale of rights to intellectual property or trade secrets to Russia is now prohibited. This is to prevent goods that cannot be delivered to Russia from being produced in Russia. The transit ban through Russia has also been extended to other goods. In the financial sector, the sale of securities to Russian nationals and organizations is now prohibited regardless of the currency. The Swiss government has also adopted the EU's provisions for granting exemptions for humanitarian purposes and for the withdrawal of Swiss investments from Russia. Close international coordination is required to effectively prevent attempts to circumvent the sanctions. Switzerland is working closely with the EU and other partners. In summary, the Swiss government has implemented additional sanctions against Russia in response to the EU's sanctions. These sanctions include an export ban on dual-use goods and goods for the military and technological strengthening of Russia to 87 additional companies, including companies from third countries. The list of goods subject to an export ban has also been expanded, and the sale of rights to intellectual property or trade secrets to Russia is now prohibited. The transit ban through Russia has also been extended to other goods, and the sale of securities to Russian nationals and organizations is now prohibited regardless of the currency. The Swiss government has also adopted the EU's provisions for granting exemptions for humanitarian purposes and for the withdrawal of Swiss investments from Russia. Close international coordination is required to effectively prevent attempts to circumvent the sanctions.nnnnnnnnnn
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