GENEVA: Switzerland has expanded its own sanctions lists against Russia, partially joining the 18th package of sanctions of the European Un...
GENEVA: Switzerland has expanded its own sanctions lists against Russia, partially joining the 18th package of sanctions of the European Union, according to a statement on the Swiss government’s official website.
The list includes 14 individuals and 41 legal entities, as well as 105 civil vessels from third countries. In addition, 26 companies were subject to stricter export control restrictions. The measures come into force on August 12 at 11:00 p.m. (09:00 p.m. GMT).
In particular, personal sanctions were imposed on Russian filmmaker and head of the Mosfilm concern Karen Shakhnazarov, businesswoman Tatyana Litvinenko and a number of citizens of China, India, Iran and Azerbaijan.
As for the legal entities, the restrictions included the Moscow Mechanical Plant of Special Equipment, Polymer JSC, the Stekloplastik scientific and production center, Yakutsk Fuel and Energy Company PJSC, Ulyanovsk Machine-Tool Plant LLC, Izhevsk Mechanical Plant JSC and other enterprises.
Individual companies from China, Singapore, India, Turkey and the United Arab Emirates were also added to the Swiss sanctions list.
In addition to that Switzerland also decided to join the EU initiative to reduce the price cap for Russian oil from $60 to $47.6 per barrel. This measure comes into force on September 3. As the press release states, Switzerland is also considering the possibility of introducing a number of sectoral restrictions in the areas of trade, finance and energy in relation to Russia, similar to the corresponding steps of the EU as part of the 18th sanctions package, but a final decision on this issue has not yet been made.
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