Switzerland Joins 11th EU Sanctions Package Against Russia
Switzerland has aligned with the 11th package of sanctions imposed by the European Union (EU) against the Russian Federation.
This information has been reported on the government's official website.
The restrictions include a ban on exports to 87 new companies of dual-use goods, as well as items that "might contribute to Russia's military-technical enhancement." The list of export-prohibited items has also been expanded to incorporate electronic components and chemical weapon precursors.
The prohibition of transit through Russia is now extended to include rocket fuel, fuel additives, as well as goods suitable for use in aviation and space industries. In the financial sector, the sale of securities to individuals and organizations from Russia, irrespective of currency, is now prohibited.
These new measures are set to take effect on August 16.
On June 28, Switzerland extended sanctions against Russia by adding 71 individuals and 33 Russian entities to the list. Assets of these individuals and entities within the country were frozen.
The 11th EU sanctions package against Russia came into force on June 23, following its full-scale military invasion of Ukraine. The new counter-evasion tool will enable the EU to restrict the sale, supply, transfer, or export of certain sanctioned goods and technologies to specific third countries, whose jurisdictions are considered consistently and significantly at risk of diversion. This new "anti-evasion" instrument will be an exceptional and ultimate measure, while other individual measures and EU information on relevant third countries have proven inadequate for prevention.
The sanctions also broaden the transit ban on specific sensitive goods (such as advanced technologies and aviation materials) that are exported from the EU to third countries via Russia. This will also diminish the risk of evasion.
The European Union has added 87 new entities to the list of those directly supporting Russia's military-industrial complex in its aggressive war against Ukraine. They will be subject to stricter export restrictions on dual-use goods and advanced technologies. Alongside the previously included Russian and Iranian entities, organizations registered in China, Uzbekistan, the United Arab Emirates, Syria, and Armenia are now also encompassed.
Furthermore, a series of measures have been introduced in the transport sector, including a complete ban on trucks with Russian trailers and semi-trailers transporting goods to the EU. This move will curb the evasion by the Russian freight operator from transporting goods into the European Union. Additionally, access to European ports for vessels engaged in ship-to-ship transfers suspected of violating the ban on Russian oil imports or the price limits set by the G7 coalition is now prohibited.