Switzerland imposes new raft of sanctions on Russia for 'military aggression in Ukraine’
26 Jan 2023 11:24am
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"In response to Russia's ongoing military aggression against Ukraine and its continued destabilising actions that undermine Ukraine's territorial integrity, sovereignty and security, the EU adopted new measures against Russia on 16 December 2022 as part of a ninth package of sanctions," reported Anadolu Agency as the council saying in a statement.
Switzerland is not part of the EU, but its economy is closely intertwined with its neighbours.
At the end of February last year, then-President Ignazio Cassis had announced that Switzerland was adopting the same financial sanctions by the EU against Russian President Vladimir Putin and other officials for Russia's war on Ukraine.
The Federal Department of Economic Affairs, Education and Research (EAER) set about amending the annexes of the relevant ordinance within its competence and approved, among other things, the sanctioning of around 200 additional individuals and entities.
The Federal Council comprises seven members, each of whom heads a government department and comes from four different major parties, also referred to as "the government," and which is likened to a cabinet in other countries.
The sanctions came into effect on Wednesday at 6 pm local time (1700GMT).
The sanctions include bans on services in product testing, advertising, market research, and opinion polling services and new controls and restrictions on the export of various goods.
These include dual-use goods, goods for military and technological enhancement, or for the development of the defence and security sector, or goods that contribute to the enhancement of Russian industrial capacity.
In addition, the government will extend the export ban on goods for the aerospace industry to include engines for aircraft and drones.
Likewise, Switzerland will ban new investments in the Russian mining sector.
The Swiss Federal Council also decided on a new provision regarding the arms embargo.
"Switzerland can now grant exemptions from the arms embargo on demining equipment for use in Ukraine on a case-by-case basis," said the council.
"In issuing the export license, steps will be taken to ensure that the material is used lawfully and for its intended purpose." - BERNAMA
