On August 31, the Swiss Federal Council decided to join the 7th package of EU sanctions against Russia.
1. Exemptions have been established from the ban on the sale, export and transit of dual-use goods, as well as the provision of services in relation to goods that ensure cybersecurity and information security. Now goods and services designed to ensure cybersecurity and information security can be exported to Russia with a license from the Swiss State Secretariat for Economic Affairs (SECO), if they are intended for civilian use and for civilian end-users;
2. An exemption from the ban on the sale, supply, export, transit and transport of luxury goods is provided for jewelery and gold owned and transported by private individuals leaving Switzerland, provided that the goods are intended for personal use and not for resale;
3. Deposit restrictions have been extended to banks, companies or organizations established outside of Switzerland or the EEA, in which more than 50% of the shares are owned by Russian citizens or individuals residing in Russia;
4. A ban has been introduced on public procurement and on the conclusion of relevant contracts with Russian contractors.
More information:: https://www.fedlex.admin.ch/eli/cc/2022/151/de
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