Switzerland will adopt fourth EU sanctions package against Russia
Keystone / Sergei Ilnitsky
The Swiss government has announced it will implement the European Union’s latest round of sanctions that includes a ban on the export of luxury goods to Russia.
This content was published on
1 minute
Keystone-SDA/ac
Español
es
Suiza adoptará el cuarto paquete de sanciones de la UE contra Rusia
Switzerland will impose restrictions on transactions with certain state-owned companies and a ban on providing rating services for Russian customers or organisations.
A ban on export of luxury goods will also be a part of the measures and is meant to target the Russian elite. According to the Federation of the Swiss Watch Industry, Russia is the 17th largest market by value for Swiss watch exports bringing in CHF260 million ($278 million) in revenue in 2021.
The government downplayed the impact of this on the Swiss luxury sector but admitted that some businesses will be hit harder than others.
“The contained ban on the export of luxury goods affects only a small proportion of Switzerland’s worldwide exports of this group of goods. However, individual companies can be severely affected,” said an official press releaseExternal link on Friday.
An additional 197 individuals and nine organisations will be added to the list of applicable sanctions. No date was given for the implementation of the Swiss sanctions.
“The corresponding measures will come into force in the next few days after the publication of the amended ‘Regulation on Measures in Connection with the Situation in Ukraine’,” said the official statement.
What factors should be taken into account when inheriting Swiss citizenship abroad?
Should there be a limit to the passing on of Swiss citizenship? Or is the current practice too strict and it should still be possible to register after the age of 25?
Swiss rivers and lakes remain low as dry weather persists
This content was published on
The start of the year has been far too dry for Switzerland's rivers and lakes. Some of them have fallen to record levels, and the situation is not about to improve, warned MeteoNews on Tuesday.
EFTA and Ukraine sign updated free trade agreement
This content was published on
The European Free Trade Association (EFTA), of which Switzerland is a member, and Ukraine signed an updated free trade agreement in Kyiv on Tuesday.
Switzerland hires US lobby firm to secure access to AI chips
This content was published on
Switzerland's State Secretariat for Economic Affairs (SECO) has hired a lobbying firm in the United States to help Switzerland gain full access to artificial intelligence chips.
Six Swiss cities to bid for 2030 ‘Capital of Culture’ title
This content was published on
The Swiss cities of Aarau, Bellinzona, Lugano, Schaffhausen, Thun and Zug are competing to become Switzerland's "Capital of Culture" in 2030.
This content was published on
The Swiss Financial Market Supervisory Authority (FINMA) is calling for legal changes to enable it to intervene early on if banks violate corporate governance rules.
François Bocion painting fetches record at Swiss auction
This content was published on
The oil painting La chasse aux grèbes by Lausanne artist François Bocion (1828-1890) fetched a record CHF270,250 ($315,530) at an auction in Basel in early April, the highest price ever paid for one of his works.
This content was published on
One in six homes in Switzerland is located in a zone threatened by natural hazards, a new study by Zürcher Kantonalbank (ZKB) has revealed.
This content was published on
The prices of owner-occupied properties continued to rise in the first three months of 2025. But large regional disparities remain.
Swiss Solidarity charity launches appeal for earthquake victims in Myanmar and Thailand
This content was published on
Swiss Solidarity, the humanitarian arm of the Swiss Broadcasting Corporation (SBC), has launched an appeal for donations for victims of the recent earthquake in Myanmar and Thailand.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.