PRESS RELEASE

Switzerland approves 6th package of sanctions, including Russian oil embargo

Switzerland approves 6th package of sanctions, including Russian oil embargo

Following the European Union’s decision, Switzerland has approved the sixth package of sanctions against Russia over the Ukraine situation, including a Russian oil embargo, the Swiss government said in a press release published on its website.

“On June 10, the Federal Council took the decision to adopt new EU sanctions against Russia and Belarus,” the press release said.

“In addition, the Federal Department of Economic Affairs, Education and Research (EAER) has imposed financial and travel sanctions on around 100 further persons,” it said.

The restrictions are imposed on Russian and Belarusian servicemen, politicians, businessmen and persons suspected by Switzerland of spreading disinformation.

The sanctions imposed by both the European Union and Switzerland exclude four Russian and Belarusian banks from the SWIFT financial messaging service.

The EU approved the sixth package of sanctions against Russia at the end of May and put it into effect at the beginning of June. The sanctions ban imports of crude oil and certain types of petroleum products from Russia. The EU said it would stop importing crude oil from Russia within six months, while the imports of petroleum products would cease within up to eight months.

In addition, the EU excluded another three Russian banks, namely Sberbank, the Credit Bank of Moscow, and Rosselkhozbank, and the Belarusian Bank for Reconstruction and Development from the SWIFT system.




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