Europe

Switzerland adopts EU’s eighth package of sanctions

On November 23, 2022, the Swiss Federal Council adopted the latest round of EU sanctions against Russia.

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In response to Russia’s ongoing military offensive against Ukraine and Russia’s continued efforts to destabilize and undermine Ukraine’s territorial integrity, sovereignty and security, the European Union (EU) has 10 On March 6, it adopted new measures against Russia as part of its eighth package of sanctions. , said the Swiss government.

Following further EU sanctions, on October 12, 2022, the Swiss Federal Ministry for Economics, Education and Research (EAER) made certain amendments, imposing sanctions on approximately 30 additional individuals and entities.

From 23 November 2022, the Federal Council will adopt the remaining measures set out in the eighth package of sanctions. These include the legal basis for the introduction of oil price caps on Russian crude oil and petroleum products, and restrictions on other steel products, aerospace products, and products of economic importance to Russia. The measures also include a ban on the provision of further services (IT, engineering, architectural, legal services) to the Russian government and Russian companies, and a ban on participation on the boards of certain Russian state-owned companies.

In addition to adopting the measures set out in the EU’s eighth package of sanctions, the Federal Council has explicitly included an arms embargo against Russia. This is partly extended to Ukraine on the grounds of Switzerland’s neutrality. Until now, Switzerland has implemented an arms embargo mainly based on existing munitions regulation laws. In adopting an embargo on military equipment, it is now explicitly included in the Ordinance in relation to the situation in Ukraine.

The Federal Council said in August that Switzerland was determined to contribute to the response to the global food and energy crises. With this in mind, the Federal Council has decided to amend the ordinance to allow the purchase of certain fertilizers only if they are intended for use outside Switzerland. This reflects Switzerland’s important role in the global fertilizer trade, the government said.

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https://lenews.ch/2022/11/25/switzerland-adopts-eus-eighth-package-of-sanctions/ Switzerland adopts EU’s eighth package of sanctions

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