Switzerland Adopts EU's 13th Sanctions Package on Russia
Switzerland implemented the EU's 13th sanctions package on Russia, the Federal Department of Economic Affairs, Education and Research announced March 1. Switzerland levied sanctions on an additional 106 individuals and 88 entities, as the EU did in late February (see 2402230020). The European nation also imposed additional trade sanctions on Russia, adding 27 entities to the export ban on dual-use goods and goods that may enhance Russia's military.
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Switzerland's State Secretariat for Economic Affairs also released a new sanctions guidance document. The document describes sanctions exemptions, whether financial institutions must consult with SECO before releasing frozen assets, evidentiary requirements under the Russian diamond import ban, and more, according to an unofficial translation.