Ukraine: List of persons extended
Bern, 02.05.2014 - On 1 May 2014 the Federal Department of Economic Affairs EAER added a further 15 individuals to the list of persons annexed to the ordinance on measures to prevent the circumvention of international sanctions connected with the situation in Ukraine. The measures come into force at 6 pm on 2 May 2014.
Following developments in Ukraine, the European Union (EU) decided on 28 April 2014 to add the names of a further 15 individuals to the list of persons subject to targeted sanctions. The EAER has acknowledged this decision and subsequently added the same individuals to its own list of persons subject to sanctions, which is annexed to the ordinance of 2 April 2014 on measures to prevent the circumvention of international sanctions connected with the situation in Ukraine. This brings the total number of individuals named on the list annexed to the ordinance to 48.
Financial intermediaries based in Switzerland may no longer enter into new business relationships with the individuals named in the annex to the ordinance. This is intended to ensure that the named individuals do not transfer assets to Switzerland. Existing business relationships involving the named individuals are not subject to this ban. However, the State Secretariat for Economic Affairs SECO must be notified of such business relationships. By invoking an obligation to notify the Federal Council aims to gain an overview of the business relationships that the persons concerned have in Switzerland and of the assets they hold here, so as to be able to decide on further measures if necessary.
The travel restrictions imposed by the EU on these 48 private individuals also have an effect on Switzerland via the Schengen Association Agreement. Consequently, no special measures are needed to prevent the circumvention of these sanctions.
In its statement of 26 March 2014 on the situation in Ukraine, the Federal Council acknowledged the sanctions imposed by certain members of the international community. It decided that Switzerland would take the measures required to ensure that its national territory cannot be misused to circumvent the sanctions imposed by the international community.
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