After the EU, Berne targets Russian oil with new sanctions
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Switzerland is stepping up its sanctions against Russia in the context of the war in Ukraine. The measures are aimed at Russia’s oil windfall. The European Union (EU) approved the same package of sanctions in mid-July, the 18th since the start of the war.
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A total of 14 new individuals and 41 new companies and entities are now subject to the sanctions, the Federal Department of Economic Affairs said in a statement on Tuesday. These include Russian and international companies operating ships in the shadow fleet, Russian crude oil traders and suppliers to the Russian military-industrial complex, including in third countries.
In addition, 105 new vessels are subject to extensive bans on buying and selling, as well as on using maritime services. These are mainly tankers belonging to Russia’s phantom fleet. In addition, the ceiling price for Russian crude oil has been lowered to $47.60.
The measures come into force at 11pm on Tuesday, with the exception of the price cap.
Adapted from French by DeepL/ac
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