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Swiss implement further EU sanctions against Russia, Belarus

Swiss implement further EU sanctions against Russia, Belarus
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Wednesday, 27 April, 2022, 21:36

Switzerland has implemented more European Union sanctions against Russia and Belarus, the government said on Wednesday, in steps designed to reduce the countries’ ability to raise funds or expand their industrial capacity.

“With the decision of 27 April, Switzerland is implementing the new measures decided by the EU on April 8 in view of Russia’s ongoing military aggression in Ukraine,” the government said in a statement.

The new measures include an import ban on lignite, coal and other items such as caviar, timber and seafood which are seen as important sources of revenue for Russia, the government said.

Also banned are exports to Russia of Swiss goods such as industrial robots and certain chemicals which could be used to strengthen Moscow’s industrial production.

Further financial sanctions will also come into effect, including no longer allowing trusts to be registered in Switzerland for resident Russian nationals.

Switzerland, however, will be able to export special equipment to protect against nuclear, biological and chemical warfare, following a request for help from the Organization for the Prohibition of Chemical Weapons.

Switzerland further banned the export of banknotes and sales of securities in all EU currencies to Belarusian nationals or residents. Previously the ban covered only securities and bank notes in Swiss francs and euros.

The new measures come into effect from 1600 GMT on Wednesday.