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 2022 at 18:00 CET.  

This amendment added 54 individuals and nine entities to Annex 8 (in relation to article 15) of the Ordinance, four entities to Annex 2 (in relation to the transitory provision of article 35 para. 4) of the Ordinance and updated the goods listed in Annexes 1 (in relation to article 5), 4 (in relation to article 10) and 23 (in relation to article 11a) of the Ordinance.

The individuals and entities consist of senior members of the political or cultural establishment, high ranking military leaders and staff, propagandists and leading business persons. Notably, as of the date hereof, Switzerland did not (yet) designate Sberbank, but also six individuals and one entity, separately designated by the EU under Regulation (EU) 2022/1274, related to Syrian military and mercenary support of the Russian army in the Ukraine.

The updated list of sanctioned individuals and entities is here.

As always, the Swiss Government will decide in due course about the implementation of the substantive amendments to the EU sanctions (i.e. the seventh sanctions package), whereafter the Ordinance will be revised accordingly.