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Neutral Swiss issue more EU sanctions against Russia

FILE PHOTO: The Swiss Parliament building
FILE PHOTO: The Swiss Parliament Building (Bundeshaus) is pictured during a Federal Council session in Bern, Switzerland, March 12, 2021. REUTERS/Denis Balibouse/File Photo

March 25, 2022

ZURICH (Reuters) – Neutral Switzerland has enacted further European Union sanctions against Russia over its invasion of Ukraine, the cabinet said on Friday, urging the country to stick to EU measures it decided to abandon its traditional neutrality.

The decision means the export of goods and related services to Russia’s energy sector is now banned, the government said https://www.admin.ch/gov/en/start/documentation/media-releases.msg-id- 87747. html in one statement.

“It is also prohibited to hold shares in companies engaged in the energy sector and to provide loans or other financing to such companies,” she added.

Under the measures, which come into effect at 22:00 GMT, the import of iron and steel products from or originating in Russia is prohibited, as is the export of luxury and maritime goods to Russia.

In the financial sector, transactions with certain state-owned companies and the provision of credit rating services are prohibited.

“This means that all measures of the fourth EU sanctions package have been implemented,” said the government.

She added that she had decided not to implement the EU’s March 1 measure to block Russian media outlets Sputnik and Russia Today.

“Despite the fact that these channels are used for the dissemination of targeted propaganda and disinformation by the Russian Federation, the Federal Council believes that countering untrue and harmful statements with facts is more effective than preventing their dissemination,” the Federal Council said called.

(Reporting by Michael Shields, editing by John Revill and Toby Chopra)

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Bobby Allyn

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