Swiss government adopts new EU sanctions against Russia

05 March 2022, 01:04 | Peace
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The Swiss government on Friday extended sanctions against Russia in line with further measures imposed by the European Union, tightening exports and financial services to the country in the worst attack on a European state since World War II..

In a sharp departure from its traditional neutrality, Switzerland moved on Monday to impose sanctions that the European Union (EU) has imposed on Russian citizens and companies and freeze their assets as punishment for invading Ukraine..

Since last week, the 27-member EU bloc has approved a series of financial, energy, export and tourism bans..

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These include freezing the assets of the Russian central bank, closing EU airspace to Russia, removing a number of Russian banks from the SWIFT international payment system, and sanctions against a group of Russian tycoons..

On Friday, Switzerland adopted new financial measures, including a ban on transactions with the Russian Central Bank and the adoption of EU SWIFT measures, and blocked a number of export transactions to Russia..

Among other things, it was about goods that “may contribute to the military-technical improvement of Russia or the development of the defense and security sector”, for use in the aviation and space industry, as well as some goods and services of the oil sector..

The government has also taken steps to be able to quickly accept Ukrainians who fled the country during the war by activating a special protection status allowing them to obtain the right to reside in Switzerland without having to go through the normal asylum procedure..

Switzerland said its imposition of new sanctions remains consistent with its neutrality, adding that it has granted exemptions so that sanctions do not hinder humanitarian action..



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" “It will decide on its own whether to accept any further EU sanctions against Russia”.

On Thursday, officials said the EU is working on further steps that could include targeting crypto assets..

European gas prices have risen amid ongoing sanctions and fears of disruption to natural gas supplies, 40 percent of which is supplied by Russia.

Switzerland on Friday said its energy supply is secure this winter but is working on a new plan for the Swiss gas industry.




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