Introduces further sanctions against the Russian Federation, aligned with the European Union's

On 16 December 2022, the Federal Council adopted further sanctions against the Russian Federation, bringing Switzerland’s measures in line with those of the European Union. The new measures introduced a prohibition on the provision of trade and brokering services of crude oil and petroleum products sold above the price cap. These measures were imposed in addition to an already existing ban on transporting of such products introduced by the previous sanctions package. These provisions came into force on 16 December 2022.

• Type:

  • Treatment and operation (Investment related trade measures)
  • Promotion and facilitation (Other)

• Industry:

  • Primary (Mining and quarrying)
  • Manufacturing (Manufacture of coke and refined petroleum products)
  • Services (Wholesale and retail trade, Transportation and storage, Financial and insurance activities)

• Sources:

  • fedlex.admin.ch, Ordonnance instituant des mesures en lien avec la situation en Ukraine du 4 mars 2022 (État le 21 décembre 2022), https://www.fedlex.admin.ch/eli/cc/2022/151/fr, 16 Dec 2022
  • BakerMcKenzie, Switzerland Implements Further EU Sanctions Measures, https://sanctionsnews.bakermckenzie.com/switzerland-implements-further-eu-sanctions-measures/#page=1, 09 Jan 2023