Switzerland

Switzerland

Imposes broader restrictive measures on Russian energy sector

25 Mar 2022

On 25 March 2022, amendments to the Ordinance on Measures in connection with the situation in Ukraine (SR 946.231.176.72) have entered into force. They introduced broader prohibition on the participation in businesses active in the energy sector and the provision of loans or other financial resources to such businesses, as well as the export of goods and related services for the Russian energy sector. Furthermore, a ban is introduced on the import of iron and steel goods from, or originating in the Russian Federation, as well as a ban on the export of maritime navigation goods and luxury goods to the Russian Federation. In the financial sector, transactions with certain State-owned companies (including Russian sovereign fund) and the provision of credit rating services are prohibited.

  • Type:
    • Entry and establishment (Ownership and control, Other)
    • Treatment and operation (Investment related trade measures)
    • Treatment and operation (Operational conditions)
  • Industry:
    • Not industry specific
    • Manufacturing (Manufacture of coke and refined petroleum products, Manufacture of basic metals)
    • Services (Financial and insurance activities)
  • Sources: