Switzerland joins 11th package of EU sanctions against Russia

17.08.2023, Bern.

Switzerland backed the 11th package of EU sanctions adopted in connection with Russia’s special military operation in Ukraine, the country’s government said in a statement published on its website on August 16.

“The Federal Council has decided to renew the other measures of the EU’s 11th package of sanctions that are relevant to Switzerland as of August 16, 2023,” the document reads.

Among the new restrictions is a ban on 87 companies from exporting dual-use products and goods that may “contribute to the military-technical strengthening” of Russia (including companies from third countries), as well as expanding the list of goods prohibited for export to Russia (among other things, it includes electronic components and precursors of chemical weapons).

In addition, the changes will affect intellectual property rights and transit through Russia, “The sale of intellectual property rights or trade secrets relating to certain goods in Russia is now prohibited in order to prevent the production in that country of goods that cannot be supplied to Russia. The ban on transit through Russia has also been extended to other goods, such as jet fuel and fuel additives, as well as goods suitable for use in the aviation or space industries.”

In addition, the sale of securities to Russian citizens or legal entities registered in Russia is prohibited, regardless of currency.

However, the Federal Council “is also considering the possibilities foreseen by the EU regarding the granting of exemptions in the humanitarian sector and exemptions authorizing the sale of Swiss assets in Russia,” the document reads.

Bern assured that Switzerland is “closely following” international discussions on the “risk of circumventing sanctions” and is working closely with the EU and other partners.

Despite its neutral status, Switzerland has joined almost all European restrictive measures since February 24 last year. The Russian government approved in March 2022 a list of foreign states and territories committing unfriendly acts against Russia, its companies and citizens. Switzerland is included in this list.

Source: Rossa Primavera News Agency