Ukraine: Federal Council decides on further measures of the 14th package of sanctions

Bern, 21.08.2024 - On 21 August, the Federal Council decided to adopt further measures of the EU's 14th package of sanctions against Russia. These measures will take effect on 27 August. On 9 July, 69 individuals and 47 entities were already added to Switzerland's sanctions list.

In response to Russia's ongoing military aggression against Ukraine, as well as Russia's continued destabilising actions that undermine Ukraine's territorial integrity, sovereignty and security, the EU adopted new measures against Russia on 24 June as part of its 14th package of sanctions. Already on 9 July, the Federal Department of Economic Affairs, Education and Research (EAER), in its capacity as the competent body, implemented sanctions on an additional 69 individuals and 47 entities.

On 21 August, the Federal Council decided to adopt further measures of the EU's 14th package of sanctions against Russia. These include a clarification of the bans on Russian diamonds, making them internationally harmonised. The effective implementation of sanctions against Russia and international coordination are of great importance to the Federal Council. The Federal Council has also extended the deadlines for granting exemption permits with regard to the withdrawal of investments from Russia. The aim is to ensure that Swiss companies can legally terminate their business activities in Russia. The amendments will enter into force on 27 August.

The 14th package of sanctions adopted by the EU on 24 June provides for a number of additional measures, which are currently being examined in detail. The head of the EAER informed the Federal Council about the measures at their meeting on 21 August. The Federal Council will discuss these measures in due course.

Address for enquiries

Enquiries from the media:
EAER Communications
info@gs-wbf.admin.ch
+41 (0)58 462 20 07

Enquiries from businesses:
sanctions@seco.admin.ch
+41 (0)58 464 08 12