Switzerland fully joins 14th package of EU sanctions against Russia

On Wednesday, 16 October, the Swiss Federal Council approved the remaining measures from the 14th package of European Union sanctions against Russia, which were introduced in June.

Source: the Swiss government, as reported by European Pravda

Details: By its decision, Switzerland has introduced restrictive measures from the latest EU sanctions package that it has not yet joined.

The new measures further tighten restrictions on exporting goods aimed at enhancing Russia's military and technical capabilities. Additionally, the sanctions list has been expanded to include 61 legal entities and 27 vessels associated with Russia's shadow fleet.

The new restrictions prohibit various banking services and investments in the liquefied natural gas sector from being provided to Russia. They also require businesses to ensure that their operations in third countries comply with existing sanctions.

Separately, Switzerland has allowed its companies to file lawsuits in Swiss courts against sanctioned companies to recover losses incurred by Swiss companies as a result of arbitrary litigation in Russia or third countries.

In addition, the Swiss Federal Council has banned political parties, non-governmental organisations and media service providers from accepting donations from the Russian government.

Background:

• In July, Switzerland joined part of the 14th EU sanctions package against Russia, placing 69 individuals and 47 legal entities on its blacklist. In August, the country also introduced restrictions on Russian diamonds.
• The 14th sanctions package, adopted by the EU on 24 June, envisages a number of additional measures, in particular in the energy, financial and commodity sectors.

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