Switzerland has broadened its sanctions against Russia and Belarus, adopting multiple measures aligned with the European Union’s 20th sanctions package, according to the Federal Department of Economic Affairs, Education and Research (EAER).
The updated restrictions, which entered into force at 11pm local time on May 22, include asset freezes and travel bans on 115 additional individuals and entities. Those targeted are linked to Russia’s military-industrial and energy sectors, as well as individuals accused of involvement in the deportation and ideological influence over Ukrainian children, Caliber.Az reports.
In addition, Switzerland has tightened export controls on 60 companies, including some based in third countries, aiming to prevent the transfer of sensitive goods to Russia’s military-industrial complex.
The measures also extend to Russia’s so-called “shadow fleet.” Forty-six vessels have been placed under comprehensive bans on purchase, sale, and services, while restrictions on 11 previously sanctioned vessels have been lifted in line with EU adjustments. Two Russian ports and one port in a third country used for exporting Russian oil products have also been subjected to transaction bans, with limited exceptions reflecting EU provisions.
Financial sanctions have been expanded further, with 20 Russian banks and seven financial intermediaries in third countries now prohibited from engaging in transactions deemed to undermine the sanctions regime. Switzerland will also ban participation in transactions involving the Russian cryptocurrency RUBx and the digital rouble starting May 26, 2026.
However, Swiss authorities said they are currently refraining from listing seven companies in a third country, while noting that operational safeguards are in place to prevent sanctions circumvention.
The Federal Council is expected to further review additional measures outlined in the EU’s sanctions package, which covers broader restrictions in the financial, energy, and trade sectors.
By Sabina Mammadli
