According to a statement by the Swiss government, Switzerland has joined the 12th package of EU sanctions, which includes a ban on the import of Russian diamonds.
“Switzerland thus joins the measures agreed at the G7 summit on 6 December 2023 to deprive Russia of this important revenue stream,” the government’s communique notes.
The measures come into force on 1 February.
Switzerland also prohibited exporting and selling chemicals, lithium batteries, certain motors for unmanned aerial vehicles, machine tools, and machinery parts to Russia. Furthermore, more entities have been added to the list of companies subject to restrictions on goods for civil and military use (dual-use goods).
In the financial sector, Russian nationals and individuals living in Russia will be banned from controlling companies in Switzerland that provide crypto-asset services. There are also additional measures to support the enforcement of the oil price cap for Russian crude oil and petroleum products and to counter attempts to circumvent the cap.
Switzerland has also placed an additional 147 individuals and companies under sanctions, taking the total to 1,422 individuals and 291 organizations.
Switzerland has joined previous rounds of EU sanctions since the start of the war almost two years ago. Therefore, Russia has stopped considering it a neutral country and classified it as “unfriendly.” Switzerland itself continues to consider itself neutral, which was manifested, in particular, in its refusal to supply weapons to Ukraine.