August 2022

The Swiss Federal Council continues aligning the Swiss sanctions regime to the EU sanctions against Russia. On August 3, 2022, Switzerland adopted the 7th package of EU sanctions. The new package comprises so called "maintenance and alignment" measures and primarily introduces a ban on buying, importing or transporting gold and gold products from Russia. As part of the maintenance and alignment package, the EU also made various technical and linguistic adjustments to existing measures. The corresponding adjustments are expected to be implemented in Switzerland shortly.