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?
Is your place of origin, your Heimatort, important to you?
Every Swiss citizen has a Heimatort, a place of origin, but many have never visited theirs. What’s your relationship with your Heimatort? What does it mean to you?
Over a quarter of Swiss Catholics consider leaving the church
This content was published on
In Switzerland 27% of Catholics have thought about leaving the church, according to a survey by the Sotomo research centre.
This content was published on
Following the Credit Suisse debacle, the Swiss Financial Market Supervisory Authority (FINMA) is adapting its organisation.
This content was published on
The Swiss Armed Forces are training their fighter jets in Bern to fly from a civilian base. The exercise at Bern Airport will last until Wednesday.
Plans materialise for new particle accelerator in Geneva
This content was published on
Preparations for a huge new particle accelerator in Geneva have reached a milestone. After several years of work, a feasibility study for the project has now been finalised.
This content was published on
The value of frozen Russian assets in Switzerland currently stands at CHF7.4 billion ($8.4 billion), the Swiss government announced on Tuesday.
This content was published on
The number of business start-ups in Switzerland accelerated in the first three months of the year, with entrepreneurs being particularly dynamic in Central Switzerland, Basel and Geneva.
Most Swiss authorities want to ban Nazi symbols in public
This content was published on
A majority of Swiss political parties, cantons and associations want to ban the use and distribution of Nazi symbols in public.
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.