Switzerland complies with EU penalties on Russia| MENAFN.COM

Thursday, 18 August 2022 04:36 GMT

Switzerland complies with EU penalties on Russia


(MENAFN) Based on the TASS on Wednesday, quoting Switzerland's Federal Council, the nation’s administration, the European Union's sixth round of penalties on Russia, which includes the partial oil embargo component, have been placed into formal effect.

According to a statement by the Federal Council, as reported by TASS, “with the decision made on June 29, Switzerland puts into effect the new measures introduced by the EU on June 3, 2022.”

These measures " include an embargo on crude oil and certain petroleum products of Russian origin," the Swiss governing body stated.

The declaration read. The oil embargo is going to be gradually implemented in Switzerland as well as should be fully imposed by the beginning of 2023, according to the authorities, “similar to EU measures, the purchase, import, transit and transportation [of Russian oil products] to or within Switzerland is prohibited.”

In addition to the oil embargo, Switzerland has forbidden its corporations from offering auditing and consulting services to Russian businesses and from running advertisements in select Russian publications, such RT and Sputnik.

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