Switzerland adopts most recent EU penalties against Russia
Date
12/25/2022 4:45:02 AM
(MENAFN) The Swiss federal Council stated on Friday that Switzerland has implemented enhanced anti-Russia sanctions in accordance with the latest European Union measures.
The declaration comes only days after the European Council approved its eighth package of sanctions in response to Moscow's military intervention in Ukraine. Export limits and limitations on dual-use products and technology, as well as items and technology that may be utilized in the defense and security sectors, are among the new measures.
The enhanced sanctions also include the blacklisting of 168 Russian companies, export prohibitions on aviation and space-related items and technology, asset freezes on two additional banks, and the revocation of broadcasting licenses from six Russian media outlets.
According to the Swiss government's statement, Brussels decided to impose further sanctions linked to a price restriction on Russian crude oil and petroleum products.
“This extends the ban on transporting such products sold above the price cap to trade and brokering services,” the announcement wrote.
Earlier this month, the EU, the G7 nations, Australia, and Norway imposed a price restriction of $60 per barrel on Russian seaborne oil, compelling Western insurance and other service providers to avoid vessels carrying Russian oil unless the cargo is purchased at or below the stipulated price.
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