On 3 August 2022, the Swiss Federal Council decided on the partial implementation of the substantive amendments to the EU sanctions (i.e. the seventh sanctions package), revising the Ordinance on Measures connected with the Situation in Ukraine (the “Ordinance“) accordingly. The amended Ordinance entered into force on 3 August 2022 at 18:00 CET. In summary, these latest amendments include: A new prohibition to purchase as well as to import, transfer or transport, directly or indirectly,…
On 29 July 2022, the Swiss Department of Economic Affairs, Education and Research amended multiple annexes of designated individuals and entities and goods targeted by the restrictive measures under the Russia sanctions. With this latest revision of the Ordinance on Measures connected with the Situation in Ukraine (the “Ordinance”), Switzerland has again aligned its position with the EU in terms of designated parties and listed goods. The amended annexes entered into force on 29 July…
On 29 June 2022, the Swiss Federal Council imposed further sanctions against Russia, in line with its announcement from 10 June (see blogpost here). With this latest revision of the Ordinance on Measures connected with the Situation in Ukraine (the “Ordinance”), Switzerland has adopted the EU’s latest package of sanctions (see blogpost here). The new measures entered into force on 29 June 2022 at 18.00 CET. The list of designated individuals and entities targeted by…
I. Adoption of the sixth EU Sanctions Package On 10 June, the Swiss Federal Council decided to also adopt the new sanctions introduced by the EU in its sixth sanctions package against Russia on 3 June (see blogpost here). The Ordinance on Measures connected with the Situation in Ukraine (the “Ordinance”) will be revised accordingly. The new EU measures target the areas of trade, finance and media. In the area of trade, the measures include…