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Switzerland strengthens sanctions against Russia

The Swiss government has strengthened sanctions against the Russian Federation, according to the website of the Federal Council of Switzerland. In particular, to existing list were added eleven names and names of five banks. Business dealing with these individuals and organizations is limited, to start new financial relationship with them is forbidden, and which are […]

The Swiss government has strengthened sanctions against the Russian Federation, according to the website of the Federal Council of Switzerland. In particular, to existing list were added eleven names and names of five banks. Business dealing with these individuals and organizations is limited, to start new financial relationship with them is forbidden, and which are already exist should be notified to the authorities, is said in the statement.

Switzerland sanctions against Russia

The banks which have got under sanctions, to issue its long-term financial instruments in the country will need to obtain permission. The Swiss authorities have made such decision to ensure that Switzerland will not stay away from imposed by the European Union sanctions against Russia, because of the situation in Ukraine.

Besides, Switzerland has banned the import of materials for military purposes from Russia, and also stopped the export of equipment for the oil industry. Previously, the Federal Council of Switzerland has instructed the Department of Economics, Education and Research of the country to introduce additional measures for supporting the EU sanctions against Russia.

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