Switzerland has implemented additional measures in line with the EU’s 14th package of sanctions against Russia. These measures will come into force on August 27, as announced by the Federal Council.
The Federal Council’s decision includes the addition of individuals and entities to the sanctions list, with specific focus on restrictions related to Russian diamonds. This aims to align Switzerland’s measures with international standards.
Furthermore, exemption permits for withdrawing investments from Russia have been extended to allow Swiss companies to legally terminate their business activities in the country. The goal is to facilitate a smooth transition for these companies.
The EU’s 14th package of sanctions against Russia, introduced on June 24, involves restrictions on numerous Russian individuals and entities, as well as sanctions on the export of dual-use items and technologies from certain countries outside the EU.