Affected “Sberbank” and gold: Switzerland adopted a new package of sanctions against the Russian Federation

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 Sberbank and gold are also affected: Switzerland has adopted a new package of sanctions against the Russian Federation

On Wednesday, August 3, Switzerland imposed additional sanctions against Russia in connection with the ongoing military aggression of the Russian Federation in Ukraine. A message about this appeared on the website of the Federal Council of Switzerland.

The new measures primarily relate to a ban on the purchase, import or transportation of gold and products from it from Russia. Services related to these products are also banned.

The largest Russian bank, Sberbank, has also had its assets frozen and banned from providing funds, economic resources, or technical services.

However, due to the global the food and energy crisis, Switzerland eased its sanctions.

To avoid disruptions in payment channels, the Federal Council made two new exceptions for transactions related to agricultural products and oil supplies to third countries.

As part of the service and harmonization package, the EU has also made various technical and linguistic adjustments to existing measures. The Federal Council instructed EAOR to make a corresponding amendment to the Order on measures in connection with the situation in Ukraine. These technical amendments will come into force later.

In addition, in early August, the EU began to embargo coal imports from Russia. The package of measures also prohibits access to EU ports for vessels registered in Russia.

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