Ukraine: additional individuals sanctioned

Bern, 12.10.2022 - In connection with Russia's annexation of Ukrainian territory, Federal Councillor Guy Parmelin, head of the Federal Department of Economic Affairs, Education and Research (EAER), approved on 12 October the addition of some 30 individuals and entities to Switzerland's sanctions list. The Federal Council was notified on the same day. The Swiss list is thus in line with that of the European Union (EU).

Under the Embargo Act, the EAER is responsible for updating the list of sanctioned individuals. On 12 October, the EAER thus amended Annex 8 to the Ordinance on Measures connected with the Situation in Ukraine (the 'Ordinance'): 30 more individuals are now subject to financial sanctions and a travel ban, while a further seven entities are subject to financial sanctions. The additional listings mainly target those involved in the so-called 'referendums' organised by Russia in Ukrainian regions at the end of September. Their assets in Switzerland must now be frozen and reported to the State Secretariat for Economic Affairs (SECO).

The EAER also amended Annex 6 to the Ordinance so that the restrictions already applicable to the areas of the Ukrainian oblasts of Donetsk and Luhansk would now also apply to the areas of the Ukrainian oblasts of Zaporizhzhia and Kherson not controlled by the Ukrainian government, illegally annexed by Russia. The amendments to these two annexes come into effect on 12 October at 6pm.

Furthermore, the EAER informed the Federal Council on 12 October about the other elements in the EU's eighth package of sanctions that were adopted on 6 October. This package lays the basis for the required legal framework to implement an oil price cap and also extends the list of goods subject to restrictions. The Federal Council will decide on whether to adopt these new measures. The EAER has commenced work in this regard.

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