Switzerland follows EU in expanding sanctions against Russia
Switzerland, following the European Union, expanded sanctions against Russia, adding 14 individuals and 41 organizations to the sanctions lists.
“A further 14 individuals and 41 entities are now subject to an asset freeze and a ban on the provision of economic resources. The individuals are also banned from entering and transiting Switzerland. The newly sanctioned individuals and entities include Russian and international companies managing shadow fleet vessels, traders of Russian crude oil, and suppliers to Russia’s military industrial complex, including those based in third countries,” says a statement posted on the Swiss government website on Tuesday.
The document notes that these steps were taken in connection with the European Union's adoption of the 18th package of sanctions against Russia over the situation in Ukraine. “Acting within its mandate, the EAER has incorporated various listings on Switzerland’s behalf,” the report notes.
In addition, 105 further vessels from third countries are now subject to comprehensive bans on purchase, sale and service provision. These are mainly tankers that form part of Russia’s shadow fleet circumventing the price cap on Russian crude oil and oil products, or transporting military goods for Russia.
Switzerland also followed the EU in lowering the price cap for Russian crude oil to $47.6 per barrel, the document said.
The EU Council adopted the 18th package of sanctions against Russia in July this year.