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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
Financial restrictions
Money and capital markets restrictions
Belarus
Comprehensive - entities, individuals
Prohibition on the provision of various services by Swiss central securities depositories for transferable securities issued after 12 April 2022 to Belarusian nationals or residents or legal persons, entities or bodies established in Belarus. Link to the original

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

16.03.2022
12.04.2022
Switzerland
Financial restrictions
Money and capital markets restrictions
Belarus
Comprehensive - entities, individuals
Prohibition on the sale of Swiss Franc or Euro denominated transferable securities issued after 12 April 2022 or of shares in collective investment schemes invested in these securities to Belarusian nationals or natural persons resident in Belarus or to persons established in Belarus Banks, companies or organizations. Link to the original

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.

16.03.2022
12.04.2022
Switzerland
Financial restrictions
Ban on banknotes
Belarus
Comprehensive - entities, individuals
Prohibition on the sale, supply, transfer or export of Swiss Franc or Euro denominated banknotes to Belarus, a person in Belarus, or for use in Belarus Link to the original

The prohibition does not apply to the sale, delivery, transfer or export of banknotes denominated in Swiss francs or euros if these are required for:
a. personal use by natural persons traveling to Belarus or their close relatives traveling with them; or
b. the fulfillment of official purposes of diplomatic or consular representations or international organizations in Belarus.

16.03.2022
16.03.2022
Switzerland
Transport ban
Flight ban
Belarus
Transport - Aerospace
Prohibition on the aircrafts of Belarusian air carriers with an operating license or equivalent authorization from the Belarusian authorities from landing or taking off at Swiss airports. This also applies to aircraft used by these companies within the framework of code-sharing or blocked-space agreements. Link to the original

Emergency landings remain permitted.
The Federal Office of Civil Aviation (BAZL) may, after consultation with the responsible bodies of the SECO and the EDA, grant exemptions from the prohibition according to paragraph 1 for humanitarian purposes or to protect Swiss interests.

16.03.2022
16.03.2022
Switzerland
Financial restrictions
Ban on FX reserve and asset management
Belarus
Public debt
Prohibition on the transactions related to the management of reserves as well as assets of the National Bank of the Republic of Belarus, including transactions with banks, companies or organisations acting on behalf of or on the instructions of the National Bank of the Republic of Belarus. Link to the original

After consultation with the EDA and the EFD, the SECO can grant exemptions from the prohibition, insofar as this is absolutely necessary to guarantee the financial stability of Switzerland.

16.03.2022
16.03.2022
Switzerland
Financial restrictions
Deposit ban
Belarus
Comprehensive - entities, individuals
Prohibition on the acceptance of deposits exceeding EUR 100,000 from Belarusian nationals, natural persons resident in Belarus and companies and organizations established in Belarus. Link to the original

The prohibition does not apply to:
a. Swiss nationals, nationals of an EU member state and natural persons who have a temporary or indefinite residence permit in Switzerland or an EU member state;
b. Deposits required for non-prohibited cross-border trade in goods and services between Switzerland and Belarus, between Switzerland and the EU and between the EU and Belarus.
The SECO can, after consultation with the competent bodies of the EDA and the EFD, grant exemptions from the prohibition according to paragraph 1 for deposits that are required:
a. to avoid hard falls;
b. for humanitarian or evacuation purposes;
c. for civil society activities that directly promote democracy, human rights or the rule of law in Belarus;
d. to fulfill official purposes of diplomatic or consular missions or international organizations; or
e. to safeguard Swiss interests.

16.03.2022
16.03.2022
Switzerland
Trade restrictions
Import ban
Belarus
Rubber products
Prohibition on the import of rubber products (items listed in Annex 12 under heading 4011 of the customs tariff) to Switzerland from Belarus or originating in Belarus. The direct or indirect provision of technical assistance, brokering services, financing or financial assistance, including financial derivatives, insurance and reinsurance related to the aforementioned activities is also prohibited. Link to the original

The prohibition does not apply to the purchase of petroleum and petroleum products in Belarus, which:
a. are needed to cover the basic needs of the buyer in Belarus;
b. are necessary for humanitarian projects; or
c. are necessary for the exercise of the official activities of diplomatic and consular representations of Switzerland and for the fulfillment of official missions of the federal government.

16.03.2022
Completion date: not specified
End of grace period: 18.06.2022
16.03.2022
Switzerland
Trade restrictions
Trade finance ban
Belarus
Comprehensive - entities, individuals
Prohibition on the provision of public financing or financial assistance for trade with, or investment in, Belarus. Link to the original

Prohibition does not apply to:
a. binding commitments regarding the provision of financial resources or financial assistance entered into before March 17, 2022;
b. the provision of public funds or financial assistance up to a total value of 10 mln francs per project for small and medium-sized enterprises established in Switzerland;
c. the provision of public funds or financial aid for the trade in foodstuffs as well as for agricultural, medical or humanitarian purposes.

16.03.2022
16.03.2022