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Swiss take measures to support sanctions against Russia

Switzerland has extended measures to make sure that mainly Russia officials and organisations in regions that declared their independence from the Ukraine will not be able to use Swiss companies to bypass international sanctions.

The State Secretariat for Economic Affairs SECO has added 26 individuals and 18 companies or organisations to its list, spokeswoman Marie Avet confirmed on Tuesday. The measures will come into force on Tuesday at 6pm.

Switzerland, a global commodity trading and private banking hub popular for Russia’s wealthy elite, decided in March against imposing its own sanctions in response to the Ukraine crisis, but promised not to become a place to circumvent sanctions imposed elsewhere.

Tuesday’s publication came after the EU had added the names and entities to its own list on July 11 and 25, Avet said. The list primarily is for financial institutions, which no longer may do business with the individuals and entities on the list, Avet told

The individuals added include members of Russia’s Security Council, the security service or the Duma, such as former Prime Minister Mikhail Fradkov and former security head Nikolai Patrushev.

Others on the list are Alexander Yurevich Borodai, who is the Prime Minister of the self-proclaimed Donetsk People’s Republic, Alexander Khodakovsky, the commander of the pro-Russian forces in Donetsk and Chechen President Ramzan Kadyrov.

The entities include regions that declared their independence from Ukraine or are affiliated with Russia, among them the republics of Donetsk, Lugansk and Odessa.

The sanctioned entities also comprise groups of armed forces fighting against the Ukrainian government forces, such as the Great Don Army, Sobol or Donbass People’s Militia, as well as former Ukrainian companies, which were confiscated by the rebels. and agencies

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