Ukraine: Switzerland adopts further sanctions
2024-12-23 00:00
The Federal Council has decided to adopt further sanctions against Russia in response to the ongoing war in Ukraine. The new measures include a ban on the import of Russian gold and a freeze on the assets of additional Russian individuals and entities.
The decision was made at a meeting of the Federal Council on 22 December 2024. The new sanctions will come into effect on 23 December 2024.
The ban on the import of Russian gold is in line with similar measures that have been adopted by other countries, including the United States, the United Kingdom, and the European Union. The ban will apply to all forms of gold, including bullion, coins, and jewelry.
The freeze on the assets of additional Russian individuals and entities targets those who are close to the Russian government or who have been involved in the war in Ukraine. The list of individuals and entities subject to the freeze will be published on the website of the State Secretariat for Economic Affairs (SECO).
The new sanctions are in addition to the measures that Switzerland has already adopted in response to the war in Ukraine. These measures include a ban on the export of military goods to Russia, a freeze on the assets of Russian President Vladimir Putin and other senior Russian officials, and a ban on the import of Russian oil and gas.
The Federal Council has also decided to provide additional humanitarian aid to Ukraine. The aid will be used to provide food, shelter, and medical care to those who have been affected by the war.
The Swiss government’s decision to adopt further sanctions against Russia is a clear signal that Switzerland stands with Ukraine and condemns the Russian invasion. The sanctions will help to put pressure on Russia to end the war and withdraw its troops from Ukraine.
Additional information
The new sanctions are based on the following legal authority:
- Federal Act on Embargoes (Embargo Act, EA)
- Ordinance on Embargoes (Embargo Ordinance, EO)
- Ordinance on the Implementation of the Embargo Ordinance (Implementation Ordinance, IO)
The full text of the new sanctions will be published in the Swiss Federal Gazette.
Ukraine: Switzerland adopts further sanctions
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