Switzerland extends sanctions against Russia

The Swiss Federal Department of Economic Affairs, Education and Research (EAER) expanded its lists of sanctions against Russia on 8 July. 

Switzerland thus joined the additional sanctions lists adopted by the EU. On 24 June, the EU adopted new measures against Russia as part of the 14th package of sanctions in response to Russia's ongoing military aggression against Ukraine. 

The EAER will then impose sanctions on another 69 individuals and 86 legal entities within its jurisdiction.

The new sanctions are mainly aimed at business owners, propagandists, members of Russian defence forces and judiciary, persons responsible for the deportation of Ukrainian children, and employees of the Federal Security Service of the Russian Federation (FSB).

The newly sanctioned entities include, in particular, companies operating in the Russian defence sector, as well as companies in the financial and trade sectors that are actively involved in sanctions circumvention.

The 14th package of sanctions adopted by the EU on 24 June includes several additional measures, particularly in the energy, finance, and trade sectors. The Swiss Federal Council is currently studying these additional measures with the goal of their possible adoption.

The EAER has also banned advertising on four Russian media outlets: Voice of Europe, RIA Novosti, Izvestia, and Rossiyskaya Gazeta. However, unlike the EU, Switzerland decided not to ban these propaganda outlets.

"Although these channels are used for the targeted dissemination of Russian propaganda and disinformation, the Federal Council still believes that it is more effective to counter false and harmful statements with facts rather than to prohibit them," the statement reads.