Switzerland has expanded sanctions lists against Russia and Belarus, partially joining the European Union’s 20th package of sanctions adopted in response to Russia’s ongoing war against Ukraine, Open4Business reported.
According to the Swiss government, the Federal Department of Economics, Education and Research extended the sanctions lists against Russia and Belarus on 22 May.
Another 115 individuals and legal entities have fallen under the new restrictions. They are subject to an asset freeze and a ban on providing funds. Individuals are also prohibited to enter Switzerland and transit through its territory.
The Swiss government specified that the new sanctions concern, in particular, individuals and organisations associated with the Russian military-industrial complex and the energy sector.
In the trade sphere, Switzerland introduces enhanced export controls for another 60 companies, including structures in third countries. The aim of this measure is to prevent the supply of critical goods for the Russian military-industrial complex.
Bern has also joined part of the EU measures against the Russian “shadow fleet”. Restrictions apply to another 46 vessels: they are banned from buying, selling and providing services. At the same time, according to the EU decision, the earlier bans for 11 vessels have been cancelled.
In addition, Switzerland has imposed a ban on operations with two Russian ports and one port in a third country, which are used to transport Russian oil products.
At the same time, Switzerland has not yet included seven companies from a third country on the sanctions list that appeared in the EU decisions. Bern said that swift measures were being applied to prevent the circumvention of sanctions.