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Switzerland
Trade restrictions
Export ban
Russia
Luxury goods
Updated the list of luxury goods (listed in Annex 18) prohibited for sale, supply, export, transport and transit to persons, enterprises or entities in, or for use in, Russia. Link to the original

Exceptions apply for the official activities of diplomatic or consular representations of Switzerland or its partners in Russia or international organisations that enjoy immunity under international law or if such goods are intended for the personal use of staff of such representations and organisations.
On 31 August, Switzerland added exclusions to the export ban on luxury goods by allowing articles of jewellery, articles of goldsmiths’ or silversmiths’ wares and parts thereof, of precious metal or of metal clad with precious metal, intended for personal use of natural persons leaving Switzerland or of immediate family members travelling with them, owned by those persons and not intended for sale.
SECO may grant exceptions to the prohibition specified in paragraph 1 for the supply or export of cultural property to Russian if the items are on loan as part of official cultural cooperation with Russia.

27.04.2022
Completion date: not specified
End of grace period: 29.07.2022
27.04.2022
Switzerland
Trade restrictions
Export ban
Russia
Industry - Petroleum products
Sale, delivery, export and transit of jet fuel and fuel additives in accordance with Annex 19: a. to or for use in Russia are prohibited; b. to or for use in Ukraine are subject to a permit requirement. The provision of services of all kinds, including financial services, brokerage and technical assistance, as well as the granting of funds in connection with jet fuel and fuel additives or with the sale, delivery, export, transit, provision, manufacture and use of these goods: a. to or for use in Russia is prohibited; b. to or for use in Ukraine is subject to a permit requirement. SECO refuses authorizations for goods and services if they are wholly or partially intended for military purposes or for military end recipients. Link to the original

This ban does not apply to goods and services that are necessary for the official activities of diplomatic or consular representations of Switzerland or its partners in Russia or of international organisations that enjoy immunities in accordance with international law SECO may, after consultation with the competent agencies of the FDFA and the FDF, authorize exemptions from this ban for humanitarian purposes

27.04.2022
27.04.2022
Switzerland
Trade restrictions
Export ban
Russia
Industry - Oil refining + LNG
Sale, supply, export and transit of goods for natural gas liquefaction as per Annex 4 to or for use in Russia is prohibited. Link to the original
27.04.2022
Completion date: not specified
End of grace period: 05.03.2022
27.04.2022
Switzerland
Trade restrictions
Export ban
Russia
Luxury goods
Prohibition on the sale, supply, export, transport and transit of luxury goods (listed in Annex 18) to persons, enterprises or entities in, or for use in, Russia. Any item listed and having a value of more than CHF 300 falls under the ban. The following goods are considered as luxury goods: Horses (purebred breeding animals), caviar and truffles, wines (including sparkling wines), beers, spirits and other beverages containing alcohol, cigars and cigarillos, perfumes, eau de toilette and cosmetic products, leather, saddlery and travel articles, handbags and similar articles, coats or other clothing, clothing accessories and footwear, carpets, runners and tapestries, pearls, precious stones and gemstones, articles made of pearls, jewellery, goldsmith’s and silversmith’s wares, coins and banknotes (except for legal tender), precious metal cutlery, porcelain tableware, lead crystal articles, electronic articles for domestic use worth more than CHF 750, electrical/electronic or optical recording and reproducing equipment with a value of more than CHF 1,000, vehicles, with the exception of ambulances, for the transport of persons by land, air or sea with a value of more than CHF 50,000 each, chairlifts and drag lifts, traction mechanisms for funiculars, or motorbikes valued at more than CHF 5,000 per item, clocks and watches, musical instruments worth more than CHF 1,500, works of art, collectors’ items and antiques, articles and equipment for recreational sports, including skiing, golf, diving and water sports, articles and equipment for billiard games, automatic bowling alleys, games of chance and games operated by coins or banknotes. Link to the original

Exceptions apply for the official activities of diplomatic or consular representations of Switzerland or its partners in Russia or international organisations that enjoy immunity under international law or if such goods are intended for the personal use of staff of such representations and organisations.
On 31 August, Switzerland added exclusions to the export ban on luxury goods by allowing articles of jewellery, articles of goldsmiths’ or silversmiths’ wares and parts thereof, of precious metal or of metal clad with precious metal, intended for personal use of natural persons leaving Switzerland or of immediate family members travelling with them, owned by those persons and not intended for sale.
SECO may grant exceptions to the prohibition specified in paragraph 1 for the supply or export of cultural property to Russian if the items are on loan as part of official cultural cooperation with Russia (added 27.04.2022)

25.03.2022
25.03.2022
Switzerland
Trade restrictions
Export ban
Russia
Technology and dual-use goods
A ban on the sale, provision, delivery, export, transit and transport of goods and technologies for maritime navigation to Russia (listed in Annex 16 of the Ordinance) to or for use in Russia or a vessel flying the Russian flag. Such exports to the Ukraine or to vessels flying the flag of Ukraine are now subject to authorisation, The usual prohibition on providing services of any kind in connection with such goods and technology also apply. Link to the original

The prohibitions do not apply where the goods and services are intended for non-military purposes, to non-military end users, for humanitarian purposes, public health emergencies, the urgent prevention or mitigation of an event that is likely to have serious and substantial effect on human health and the environment or for the management of natural disasters.
SECO may grant further exceptions if the goods and technology or the related technical or financial assistance are intended for maritime security.

25.03.2022
25.03.2022
Switzerland
Financial restrictions
Ban on FX reserve and asset management
Russia
Public debt
Extention of the existing prohibition on transactions in connection with the management of reserves and funds of the Central Bank of Russia to explicitly include the Russian National Wealth Fund. Link to the original

After consultation with the responsible departments of the FDFA and the FDF, SECO may now grant exceptions to the prohibition to terminate transactions, contracts or other agreements, including the corresponding banking relationships, no later than by 4 May 2022, which were concluded with the corresponding banks, companies or organisations before 6 PM on 4 March 2022,

25.03.2022
Completion date: not specified
End of grace period: 04.05.2022
25.03.2022
Switzerland
Financial restrictions
Loan or credit ban
Russia
Energy - Energy sector
The following activities related to participations in companies in the Russian energy sector are now prohibited: (1) the provision of, or participation in, loans, credits or other financial resources, including equity capital, to or for the financing of legal persons, undertakings or entities incorporated or constituted under the laws of a State outside Switzerland or the EEA and operating in the energy sector in Russia; (2) the provision of investment services directly or indirectly related to the activities referred to in points 1. Link to the original

SECO may authorize such activities if they are necessary for ensuring critical energy supply within Switzerland and the EEA as well as transport of fossil fuels from or through Russia into Switzerland and the EEA or they exclusively concern an entity operating in the energy sector in Russia owned by an entity which is incorporated or constituted under the law of Switzerland or an EEA member state,

25.03.2022
25.03.2022
Switzerland
Financial restrictions
Joint venture ban
Russia
Energy - Energy sector
Following activities related to participations in companies in the Russian energy sector are now prohibited: (1) the establishment of joint ventures with legal entities, companies or organisations established or incorporated under the law of a state outside Switzerland or the EEA and operating in the energy sector in Russia; (2) the provision of investment services directly or indirectly related to the activities referred to in points 1. Link to the original

SECO may authorize such activities if they are necessary for ensuring critical energy supply within Switzerland and the EEA as well as transport of fossil fuels from or through Russia into Switzerland and the EEA or they exclusively concern an entity operating in the energy sector in Russia owned by an entity which is incorporated or constituted under the law of Switzerland or an EEA member state,

25.03.2022
25.03.2022
Switzerland
Trade restrictions
Import ban
Russia
Industry - Iron and steel
The import, transport and purchase of iron and steel products (listed in Annex 17 of the Ordinance) from or originating in Russia are prohibited, The direct or indirect provision of technical assistance, brokering services, financing or financial assistance, including financial derivatives, as well as insurance and reinsurance in connection with such activities is also prohibited. Link to the original
25.03.2022
Completion date: not specified
End of grace period: 17.06.2022
26.03.2022
Switzerland
Trade restrictions
Export ban
Russia
Military/defence
Switzerland extended the list of goods banned for sale, delivery, export, transit and transport to or for use in Russia, that could help to strengthen Russia in military and technological terms or to develop its defence and security sector, namely certain chemicals (listed in Annex 1). Link to the original

Exceptions to the above prohibition include supply (and relating assistance) of goods and technology necessary for:
– the transport of natural gas and petroleum, including refined petroleum products, from or through Russia to Switzerland or the EEA (amended 27.04.2022); or
– the urgent prevention or mitigation of an event likely to have a serious and significant impact on human health and safety or the environment,
Moreover, insurance and retroactive insurance coverage in favour of a company founded or registered under Swiss law or the law of an EEA member state in relation to its activities outside the Russian energy sector are excluded from the prohibition,
Additionally, after consultation with the competent offices of the FDFA and, where financial services or energy supply are concerned, the Federal Department of Finance (FDF) or the Federal Department of the Environment, Transport, Energy and Communications (DETEC), SECO may grant licenses in the event the supply of goods and services is necessary to secure the energy supply of Switzerland or an EEA member state in the event of an imminent or existing serious shortage, or the goods or services are intended for the exclusive use of organisations owned or controlled in whole or in part by an organisation incorporated or registered under Swiss law or the law of an EEA member state.

25.03.2022
Completion date: not specified
End of grace period: 17.09.2022
25.03.2022