Ukraine: Switzerland adopts further sanctions

 

Bern, 16.12.2022

On December 16, 2022, the Federal Council adopted further sanctions against Russia, in line with the latest measures by the European Union (EU). The measures will come into force at 6 pm on December 16, 2022.

In response to Russia’s continuing military aggression and destabilising actions in Ukraine, the EU agreed on 3 December to apply new sanctions relating to a price cap on Russian crude oil and petroleum products. This extends the ban on transporting such products sold above the price cap to trade and brokering services. On December 16, 2022, the Federal Council decided to adopt these provisions, bringing Switzerland’s measures in line with those of the EU.

On December 8, the Federal Department of Economic Affairs, Education and Research (EAER) amended Annex 28 to the Ordinance on Measures Relating to the Situation in Ukraine, setting a price cap for Russian crude oil of USD 60 per barrel. In addition, two further individuals have been subject to financial and travel restrictions, and two further organisations have been placed under financial restrictions: the measures apply to Iranian individuals and organisations sanctioned by the EU on November 14, 2022, for their involvement in developing and supplying unmanned aerial vehicles (drones) to Russia.

More Information:

Measures in relation to the situation in Ukraine

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