Swiss sanctions against Russia – Implementation of the EU 11th Sanctions Package
Swiss sanctions against Russia – Implementation of the EU 11th Sanctions…
The Swiss Federal Council continues aligning the Swiss sanctions regime to the European Union (EU) sanctions against Russia. On August 16, 2023, the Swiss Federal Council adopted further measures against Russia, in line with the 11th sanctions package adopted by the EU. This follows a move on June 28, 2023 where the Federal Department of Economic Affairs, Education and Research (DEFR) added over a hundred individuals and entities to the Swiss sanctions list. The latest measures impose additional commercial and financial sector restrictions, and delineate exceptions in the humanitarian sector, with certain safeguards for Swiss economic interests in specific scenarios.