Author

Philippe M. Reich

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On 24 June, the Swiss Government decided to impose coercive measures in response to the current situation in Nicaragua. Switzerland is therefore joining the European Union in imposing sanctions on Nicaragua due to ongoing violations against human rights, democracy and the rule of law. Our previous blog post on the EU’s recent imposition of sanctions is available here. The Swiss Federal Council has issued an Ordinance imposing financial and travel sanctions against six persons with…

Following the adoption by the European Commission of Regulation (EU) 2020/402 on 15 March 2020, as amended on 20 March 2020, introducing a prior licensing requirement for exports of medical protective equipment from EU Member States to third countries (except for exports to EFTA Member States, namely including Switzerland), the Swiss Government has on 25 March 2020, as part of its COVID-19 regulatory framework, adopted a Regulation, taking effect on March 26, 12:00am, requiring a…

On 27 February 2020, the Swiss Humanitarian Trade Arrangement (SHTA), a payment mechanism designed to enable humanitarian goods to be delivered to Iran, came into effect. The SHTA was developed by Switzerland in close cooperation with the relevant authorities in the USA and in Iran, as well as with selected Swiss banks and companies. The SHTA is available to Swiss firms only. Following the US’s withdrawal from the JCPOA in May 2018, and the subsequent…

On 30 January 2020, the Swiss Federal Council announced the first successful pilot transaction under the proposed Swiss Humanitarian Trade Arrangement (SHTA), a payment mechanism designed to enable the delivery of humanitarian goods to Iran. The SHTA was developed by Switzerland since autumn 2018 with the cooperation of relevant US and Iranian authorities, along with selected Swiss and interested banks.  Once finally agreed and implemented, it will become the first US OFAC-consented humanitarian trade arrangement,…