Switzerland joins EU sanctions on Russia

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Switzerland has officially put into effect the EU’s sixth package of sanctions against Russia, including the partial oil embargo element, TASS reported on Wednesday, citing the country’s government, the Federal Council.

With the decision made on June 29, Switzerland puts into effect the new measures introduced by the EU on June 3, 2022,” the Federal Council said in a statement, as cited by TASS.

According to the Swiss ruling body, these sanctions “include an embargo on crude oil and certain petroleum products of Russian origin.”

“Similar to EU measures, the purchase, import, transit and transportation [of Russian oil products] to or within Switzerland is prohibited,” the statement said. The authorities explained that the oil embargo will be introduced in Switzerland gradually and should be fully enforced by the beginning of 2023.

Besides the oil embargo, Switzerland has prohibited the country’s companies from providing auditing and consulting services to Russian enterprises, and has banned them from advertising products in some Russian media, including RT and Sputnik.

The EU adopted its sixth package of Ukraine-related sanctions on Russia on June 3. It includes an embargo on maritime deliveries of Russian oil and oil products. Switzerland, which is not a member of the EU and prides itself on its neutral status, expressed support for the package earlier this month, but Wednesday’s statement from the Federal Council means the measures are officially adopted.

For more stories on economy & finance visit RT’s business section

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