Switzerland has fully joined the 14th package of EU sanctions against russia

The Swiss Federal Council has announced the implementation of the 14th EU sanctions package against russia. The new restrictions are aimed at increasing pressure on Moscow over its military aggression against Ukraine.

It is noted that the new restrictions will come into force on Thursday, October 17.

The sanctions include tighter restrictions on the export of products that can strengthen russia's industrial and military potential. The sanctions list includes 61 new companies, about half of which are located in third countries and have ties to Russia's military sector. The sanctions also include 27 vessels of the russian “shadow fleet” involved in the supply of military goods.

The new restrictions include a ban on the use of alternative SWIFT systems for russian banks. Additionally, sanctions were imposed against liquefied natural gas (LNG), which include a ban on investments in russian LNG projects, as well as restrictions on imports and transportation of russian LNG through the EU.

Swiss companies were entitled to compensation for damages incurred as a result of litigation in russia or third countries, and a ban was imposed on accepting political donations from the russian government. In addition, Swiss subsidiaries in other countries must ensure compliance with EU sanctions.

It is also noted that the country has not yet introduced certain restrictions on intellectual property rights, as it has not recorded any cases of violations of these rights by the russian federation.

Source: website of the Swiss Federal Council