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Switzerland
Financial restrictions
Money and capital markets restrictions
Belarus
Comprehensive - entities, individuals
Extension of the prohibition on the sale of securities to Belarusian nationals or residents or entities to all official currencies of EU Member States. Until now, only securities in Swiss francs and in euros were affected. Посилання на оригінал

Prohibition does not apply to Swiss nationals, nationals of an EU member state and natural persons who have a temporary or permanent residence permit in Switzerland or an EU member state.

27.04.2022
27.04.2022
Switzerland
Financial restrictions
Joint venture ban
Russia
Energy - Energy sector
The following activities related to enterprises in the energy sector of Russia are prohibited: (c) the establishment of joint ventures with legal persons, companies or organizations incorporated or incorporated under the laws of a country outside of Switzerland or the EEA and operating in the energy sector in Russia; (d) the provision of securities services that are directly or indirectly related to the activities specified in letters a, b and c. Посилання на оригінал

After consultation with the responsible departments of the FDFA, DETEC and the FDF, SECO may authorize exceptions to the prohibitions if the activities:
a. are necessary to ensure the energy supply of Switzerland or an EEA member state in the event of an imminent or already existing serious shortage or to transport natural gas and crude oil, including refined petroleum products, from or through the Russian Federation to Switzerland or the EEA member states; or
b. exclusively for the benefit of a legal person, company or organization which is active in the energy sector in the Russian Federation and which is owned by a company or organization incorporated or incorporated under the laws of Switzerland or the laws of an EEA member state.

27.04.2022
27.04.2022
Switzerland
Financial restrictions
Other
Russia
Comprehensive - entities
Direct or indirect support, in particular through the granting of funds, financial assistance or other benefits within the framework of a national program in Switzerland, of legal persons, companies or organizations established in Russia that are controlled by a government agency or in which a state body has a stake of more than 50% is prohibited. Посилання на оригінал

The prohibition does not apply to:
a. humanitarian activities, responding to public health emergencies, the urgent prevention or containment of an event that is expected to have a serious and material impact on human health, safety or the environment, or responding to natural disasters;
b. crop protection and veterinary programs;
c. intergovernmental cooperation on space programs and cooperation within the framework of the international thermonuclear experimental reactor ITER;
d. intergovernmental cooperation within the framework of the agreement of November 30, 2009 on the construction and operation of a European X-ray free-electron laser facility and the agreement of December 16, 1988 on the construction and operation of a European synchrotron radiation facility;
e. the operation, maintenance and decommissioning of civilian nuclear facilities, the management of their radioactive waste, their fuel supply and reprocessing and ensuring their safety, the supply of raw materials for the production of medical radioisotopes, similar medical applications and critical technologies for radiological environmental monitoring and civil nuclear cooperation, particularly in the field of research and development;
f. mobility and exchange programs for individuals and to promote people-to-people contacts;
g. Climate and environmental programs that do not serve research and innovation;
h. the official activities of diplomatic and consular representations of Switzerland and its partners or international organizations enjoying immunity under international law in the Russian Federation.

27.04.2022
27.04.2022
Switzerland
Trade restrictions
Business and administrative services ban
Russia
Comprehensive - entities, individuals
Prohibition on the formation of a trust or similar legal entity, and the provision of a registered office, business or administrative address, or administrative services for a trust, to Russian residents or national natural and legal persons (being either settlor or beneficiary) or legal persons owned by or acting on behalf of them. Посилання на оригінал

The prohibitions do not apply if the founders or beneficiaries are Swiss nationals or nationals of an EEA member state or have a temporary or permanent residence permit in Switzerland or an EEA member state.
After consultation with the responsible departments of the FDFA and the FDF, SECO may grant exceptions for services that are necessary for:
a. humanitarian activities such as providing or facilitating the delivery of relief, including the delivery of medical supplies and food, the transportation of humanitarian workers and related relief or evacuation;
b. civil society activities directly promoting democracy, human rights or the rule of law in Russia.

*** The amendments also provide new exemptions for pre-existing measures and clarification on certain restrictions, including the ban on trust services.

27.04.2022
27.04.2022
Switzerland
Financial restrictions
Investment ban
Russia
Energy - Energy sector
The following activities related to enterprises in the energy sector of Russia are prohibited: (1) the acquisition of new or the expansion of existing interests in a legal person, company or organization incorporated or incorporated under the laws of any country outside of Switzerland or the EEA and operating in the energy sector in Russia; (2) the provision of securities services that are directly or indirectly related to the activities specified in letters a, b and c. Посилання на оригінал

After consultation with the responsible departments of the FDFA, DETEC and the FDF, SECO may authorize exceptions to the prohibitions if the activities:
a. are necessary to ensure the energy supply of Switzerland or an EEA member state in the event of an imminent or already existing serious shortage or to transport natural gas and crude oil, including refined petroleum products, from or through the Russian Federation to Switzerland or the EEA member states; or
b. exclusively for the benefit of a legal person, company or organization which is active in the energy sector in the Russian Federation and which is owned by a company or organization incorporated or incorporated under the laws of Switzerland or the laws of an EEA member state.

27.04.2022
27.04.2022
Switzerland
Financial restrictions
Loan or credit ban
Russia
Energy - Energy sector
The following activities related to enterprises in the energy sector of Russia are prohibited:. b. the provision of or participation in loans, credits or other funds, including equity, for or for the financing of any legal person, company or organization incorporated or incorporated under the laws of a country outside of Switzerland and the EEA and active in the energy sector in of Russia; d. the provision of securities services that are directly or indirectly related to the activities specified in letters a, b and c. Посилання на оригінал

After consultation with the responsible departments of the FDFA, DETEC and the FDF, SECO may authorize exceptions to the prohibitions if the activities:
a. are necessary to ensure the energy supply of Switzerland or an EEA member state in the event of an imminent or already existing serious shortage or to transport natural gas and crude oil, including refined petroleum products, from or through the Russian Federation to Switzerland or the EEA member states; or
b. exclusively for the benefit of a legal person, company or organization which is active in the energy sector in the Russian Federation and which is owned by a company or organization incorporated or incorporated under the laws of Switzerland or the laws of an EEA member state.

27.04.2022
27.04.2022
Switzerland
Financial restrictions
Ban on banknotes
Russia
Comprehensive - entities, individuals
The sale, delivery, export and transit of banknotes denominated in Swiss francs or an official currency of a member state of the European Union to the Russian Federation or to any natural or legal person, entity or company in the Russian Federation, including the government and the Central Bank of the Russian Federation, or for use in the Russian Federation are prohibited. Посилання на оригінал

The prohibition does not apply to the sale, delivery, export or transit of banknotes denominated in Swiss francs or an official currency of a member state of the EU if this sale, delivery, export or transit is necessary for :
a. personal use by persons traveling to the Russian Federation or their close relatives traveling with them; or
b. the performance of official activities of diplomatic or consular representations or international organizations in the Russian Federation.

27.04.2022
27.04.2022
Switzerland
Financial restrictions
Money and capital markets restrictions
Russia
Central Bank
Assisting in issuing, trading in and providing securities services in connection with securities and money market instruments issued after March 14, 2022 by any of the following issuers is prohibited: a. the Russian Federation and its government; b. the Central Bank of the Russian Federation; c. Companies or organizations acting on behalf of or by order of the Central Bank of the Russian Federation. Посилання на оригінал
27.04.2022
27.04.2022
Switzerland
Financial restrictions
Money and capital markets restrictions
Russia
Comprehensive
Prohibition to list and provide services on trading venues securities of banks, companies or organizations established in the Russian Federation which are controlled by a state body or in which a state body owns more than 50%. Посилання на оригінал
27.04.2022
27.04.2022
Switzerland
Financial restrictions
Crypto transaction ban
Russia
Comprehensive - entities, individuals
Prohibition on accepting crypto-assets from and to provide related services to Russian nationals, natural persons resident in Russia or legal persons, companies or entities established in Russia, if the total value of the cryptoassets of the natural or legal person, enterprise or entity exceeds CHF 10'000 per crypto wallet, account or the custody service provider. It should be noted that the Ordinance on measures in connection with the situation in Ukraine does not define the term "crypto-assets". In the absence of legislative guidelines for the Swiss sanctions regime, it is likely that the Swiss sanctions authorities will refer to the term "crypto-assets" as defined in Article 5a of the Banking Ordinance Посилання на оригінал

Prohibitions do not apply to:
a. Swiss nationals, nationals of an EEA member state and natural persons who have a temporary or permanent residence permit in Switzerland or an EEA member state;
b. Deposits required for non-prohibited cross-border trade in goods and services between Switzerland and Russia, Switzerland and the EEA, or the EEA and Russia.
After consultation with the responsible departments of the FDFA and the FDF, SECO may grant exceptions to the prohibitions for deposits or the provision of services in connection with crypto wallets, crypto accounts or the custody of crypto-based assets that are required: a. to avoid cases of hardship; b. for humanitarian purposes or for evacuation purposes; c. for civil society activities that directly promote democracy, human rights or the rule of law in the Russian Federation; d. to carry out official activities of diplomatic or consular representations or international organizations; e. to safeguard Swiss interests.

27.04.2022
27.04.2022