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ANNOUNCEMENT 27 Apr 2022
In April 2022, the Swiss Federal Council adopted further trade restrictions on Russia and Belarus due to the invasion of Ukraine.
NUMBER OF INTERVENTIONS
7
SOURCE
Swiss Federal Council, 27 April 2022, "Ukraine: Further EU sanctions against Russia implemented": https://www.admin.ch/gov/en/start/documentation/media-releases.msg-id-88265.html
Fedlex, Ordinance "On measures related to the situation in Ukraine", 4 March 2022, AS 2022 151 (as of 27 April 2022): https://www.fedlex.admin.ch/eli/cc/2022/151/de
State Secretariat for Economic Affairs (SECO), Ordinance "On measures related to the situation in Ukraine", 27 April 2022, Annex 23: https://www.seco.admin.ch/seco/de/home/Aussenwirtschaftspolitik_Wirtschaftliche_Zusammenarbeit/Wirtschaftsbeziehungen/exportkontrollen-und-sanktionen/sanktionen-embargos/sanktionsmassnahmen/massnahmen-zur-vermeidung-der-umgehung-internationaler-sanktione.html
Fedlex, Ordinance "On measures against Belarus", 16 March 2022, AS 2022 172 (as of 27 April 2022): https://www.fedlex.admin.ch/eli/cc/2022/172/de
On 27 April 2022, the Swiss Federal Council announced an export ban of jet fuel, robots and chemical products and others to Russia by introducing a revision of the "Ordinance on measures related to the situation in Ukraine". The export ban entered into force on the same day and was adopted in the context of the ongoing Russian invasion of Ukraine in February 2022.
More concretely, the measure prohibits the direct or indirect export, sale and delivery of the following products to Russia:
With this measure, Switzerland adopted the fifth EU sanction package, announced on 8 April 2022. Concretely, the export ban follows Council Regulation (EU) 2014/833 prohibiting the export, directly or indirectly, of additional goods to Russia or for use in Russia, adopted on 8 April 2022, see the related state act. The Swiss Federal Council has introduced several economic and financial sanctions over the last weeks, see the related state acts.
On 27 April 2022, the Swiss Federal Council announced an import ban of coal and other solid fuels from Russia by introducing a revision of the "Ordinance on measures related to the situation in Ukraine". This import ban was introduced in the context of the Russian invasion of Ukraine in February 2022 and entered into force on the same day.
More concretely, the measure prohibits the direct or indirect import and purchase of the following products originating from Russia:
With this measure, Switzerland adopted the fifth EU sanction package, announced on 8 April 2022. Concretely, the export ban follows Council Regulation (EU) 2014/833 prohibiting the export, directly or indirectly, of additional goods to Russia or for use in Russia, adopted on 8 April 2022, see the related state act. The Swiss Federal Council has introduced several economic and financial sanctions over the last weeks, see the related state acts.
On 27 April 2022, the Swiss Federal Council prohibited the award as well as the continuation of any public procurement contracts with Russian nationals, legal personals or other entities acting on behalf of those mentioned above. by amending the Ordinance "Ordinance on measures related to the situation in Ukraine" of 4 March 2022. This measure was introduced following the Russian attack supported by Belarus on Ukraine and entered into force on the same day.
With some exceptions for the nuclear, space, energy and metallurgic sectors, this measure is applied horizontally to all industries.
Switzerland adopted the fifth EU sanction package with this measure, announced on 8 April 2022. Concretely, the public procurement ban follows Council Regulation (EU) 2022/576 prohibiting access to public procurement procedures for Russian companies and nationals. In addition, the Swiss Federal Council has introduced several economic and financial sanctions over the last weeks; see the related state acts.
Controls on commercial transactions and investment instruments
On 27 April 2022, the Swiss Federal Council amended the ordinance "On measures against Belarus" from 16 March 2022, expanding the prohibition of supplying and exporting banknotes denominated in any official EU currency to Belarus. The measure was introduced in the context of the Russian invasion of Ukraine in February 2022 and support from Belarus and entered into force on the same day.
The previous prohibition referred only to Euro and Swiss Francs. The measure has some exceptions, namely for natural personas with immediate family members in Belarus or diplomatic missions.
With this measure, Switzerland adopted the fifth EU sanction package, announced on 8 April 2022. Concretely, the measure follows Council Regulation (EU) 2022/577 of 8 April 2022 amending Regulation (EC) No 765/2006 concerning restrictive measures in view of the situation in Belarus and the involvement of Belarus in the Russian aggression against Ukraine, see the related state act.
Due to the Russian attack on Ukraine in February 2022, Switzerland has introduced several financial and economic sanctions including export bans and air space closures, on Russia and Belarus, see the related state acts and interventions.
On 27 April 2022, the Swiss Federal Council amended the ordinance "On measures against Belarus" from 16 March 2022, expanding the prohibition of the sale of securities to all securities denominated in any official EU currency to Belarus. The measure was introduced in the context of the Russian invasion of Ukraine in February 2022 and Belarus' support and entered into force on the same day.
The previous prohibition referred only to securities issued in Euro and Swiss Francs. The measure does not apply to Swiss or EU citizens and permanent residents in Switzerland.
With this measure, Switzerland adopted the fifth EU sanction package, announced on 8 April 2022. Concretely, the measure follows Council Regulation (EU) 2022/577 of 8 April 2022 amending Regulation (EC) No 765/2006 concerning restrictive measures in view of the situation in Belarus and the involvement of Belarus in the Russian aggression against Ukraine, see the related state act.
Due to the Russian attack on Ukraine, Switzerland introduced several financial and economic sanctions including export bans and air space closures, on Russia and Belarus since February 2022, see the related state acts and interventions.
Control on personal transactions
On 27 April 2022, the Swiss Federal Council prohibited the registration of trusts in Switzerland for Russian nationals or natural or legal persons resident in Russia by amending the Ordinance "On measures related to the situation in Ukraine" of 4 March 2022. This measure was introduced following the Russian attack on Ukraine and entered into force on the same day.
Concretely, establishing a trust with Russian citizens or legal persons and institutions established in Russia as beneficiaries is prohibited. It is also not allowed to act as a trustee, nominal shareholder, director or secretary for a trust.
Some exemption applies to Swiss or EU nationals or Russian citizens residing permanently in Switzerland or the European Economic Area. In addition, trusts supporting humanitarian activities or civil society activities directly promoting democracy, human rights, or the rule of law in Russia may also be exempted from this prohibition.
Switzerland adopted the fifth EU sanction package with this measure, announced on 8 April 2022. Concretely, the export ban follows Council Regulation (EU) 2014/833 prohibiting the export, directly or indirectly, of additional goods to Russia or for use in Russia, adopted on 8 April 2022, see the related state act. The Swiss Federal Council has introduced several economic and financial sanctions over the last weeks; see the related state acts.
Controls on commercial transactions and investment instruments
On 27 April 2022, the Swiss Federal Council prohibited taking crypto-based assets from Russian nationals or natural or legal persons residing in Russia by amending the Ordinance "On measures related to the situation in Ukraine" of 4 March 2022. This measure was introduced following the Russian invasion of Ukraine and entered into force on the same day.
Concretely, the provision of services related to crypto wallets, crypto accounts or custody of crypto assets to Russian citizens, natural persons residing in Russia or legal entities, companies or organisations established in Russia is prohibited if the total value of the crypto assets exceeds CHF 100'000 (approx. USD 107'380). Exemptions apply to Swiss and EU citizens or natural persons permanently residing in Switzerland or the European Economic Area.
A similar prohibition was already introduced for deposits exceeding CHF 100'000 (approx. USD 110'805) on 4 March 2022, see the related state act.
Switzerland adopted the fifth EU sanction package with this measure, announced on 8 April 2022. Concretely, this measure follows the amended Regulation (EU) 833/2014, which set the sanctions against Russia in the context of the Crimea conflict in 2014, see the related state act.