Switzerland backs EU in expanding sanctions against Russia

Switzerland is aligning with the European Union's 17th sanctions package by adopting the listed measures in response to Russia's continued aggression against Ukraine. Measures came into force on June 3.

According to the State Secretariat for Economic Affairs, under the current sanctions, 17 individuals and 58 entities are now subject to asset freezes and prohibitions on providing funds or economic resources. Additionally, the individuals face entry and transit bans in Switzerland. Most of those sanctioned are associated with supporting Russia's military-industrial complex.

Furthermore, 189 additional vessels from third countries are now subject to broad bans on purchase, sale, and service provision. These vessels are primarily tankers that are part of Russia's shadow fleet, used to evade the price cap on Russian crude oil and oil products, or to transport military goods for Russia.

In terms of trade, 31 new entities—including some based in third countries—have been placed under stricter export controls. Additionally, the list of goods that contribute to military and technological advancement has been expanded, aligning with EU measures.

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