In response to Russian ongoing invasion of Ukraine, Switzerland’s Federal Council took the decision on March 25 to adopt further sanctions against Russia in line with the latest package of sanctions.
The export of goods and related services for the Russian energy sector is now prohibited. Also prohibited is the participation in businesses active in the energy sector and the provision of loans or other financial resources to such businesses.
A ban is introduced on the import of iron and steel goods from Russia, or originating in Russia, as well as a ban on the export of luxury goods and maritime navigation goods to Russia.
In the financial sector, transactions with certain state-owned companies and the provision of credit rating services are prohibited.
