Ukraine: Swiss Implementation of further EU sanctions against Russia

In view of Russia’s ongoing military aggression in Ukraine, the Federal Council enacted further sanctions against Russia on June 29, 2022. This implements the Federal Council’s decision of June 10, 2022 to adopt the EU’s latest package of sanctions. The measures come into force at 6pm on June 29, 2022.

With the decision of June 29, 2022, Switzerland is implementing the new measures decided by the EU on 3 June in response to Russia’s ongoing military aggression in Ukraine (sixth package of sanctions). The Federal Council took the decision to adopt the EU’s sixth package of sanctions at its meeting on 10 June. The EAER, in cooperation with the other agencies involved, prepared the incorporation of the measures into Swiss law and the amendments to the Ordinance on measures in connection with the situation in Ukraine. The EAER updated the list of individuals and entities targeted by the sanctions with effect from 10 June adding over 100 further Russian and Belarusian individuals and entities.

The new measures include an embargo on crude oil and certain refined petroleum products from Russia. Similar to the measures applicable in the EU, the purchase, import, transit and transport to or within Switzerland are prohibited. As such, trade in crude oil and petroleum products destined for Switzerland is prohibited. This is accompanied by a ban on the provision of related services. In addition, the embargo provides for a ban on the provision of services, including insurance or reinsurance, in connection with the transport of oil and certain Russian petroleum products to any destination. This embargo will be brought into force progressively, as is the case in the EU, taking full effect by the beginning of 2023 following a number of transitional periods. Switzerland imports Russian petroleum products from European member states; in order to take into account the complex transitional periods foreseen by the EU, exceptions are envisaged in Switzerland for Russian oil and petroleum products that were legally imported into an EU member state prior to the new measures.

In the financial sector, the provision of services such as accounting, public relations and business consultancy to the Russian government or to legal persons and entities established in Russia is now prohibited. In addition, it is now prohibited to advertise content produced or broadcast by certain Russian media such as Russia Today or Sputnik. Lastly, various pre-existing measures have been followed up with new possibilities for exemptions or have been clarified. In particular, the prohibitions on the provision of services to trusts have been rendered more precise.

As a result, Switzerland has now implemented most of the new EU measures against Russia. This excludes the EU bans concerning the award of public contracts to Russian nationals and organisations or entities established in Russia. On April 27, 2022, the Federal Council instructed the competent bodies to carry out the necessary clarifications and to report back on this measure On June 29,2022, the Federal Council took note of this report and instructed the EAER to submit a corresponding amendment to the Ordinance on measures in connection with the situation in Ukraine by the end of August.

The new measures will come into force at 6pm on 29 June 2022.

Further Information: Measures in connection with the situation in Ukraine

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