Updated sanctions notification: Belarus
On 30 October 2024, the Federal Council adopted further sanctions
against Belarus. It is reacting to Belarus' continued involvement in
Russia's military aggression against Ukraine and joins the European
Union (EU), which adopted additional measures on 29 June 2024. To this
end, the Federal Council has amended the Ordinance on Measures against
Belarus (SR 946. 231. 116. 9).
The measures are aimed at
further aligning the sanctions against Belarus with the existing
sanctions against Russia in connection with the situation in Ukraine.
Among other things, the harmonisation is intended to prevent the
circumvention of existing sanctions against Russia.
In the
financial sphere, the new sanctions against Belarus include a ban on
investing in companies operating in the Belarusian energy sector. In
the trade sector, export and import bans will be tightened. For
example, purchases and imports of gold, diamonds, coal and crude oil
from Belarus or of Belarusian origin are now prohibited. There are
also new sales and export bans to Belarus for luxury goods, goods for
oil refining and liquefaction of natural gas, goods to strengthen
industry, jet fuels and fuel additives, and maritime goods.
In
addition, existing bans, for example on dual-use items, will be
extended to transit through Belarus. Analogous to the sanctions
against Russia, an obligation will be introduced for exporters to
contractually prohibit the re-export of certain goods, including those
used in equipment used to wage war against Ukraine ("Common High
Priority Items"), from a third country to Belarus. This measure is
intended to prevent sanctions in force in Switzerland from being
circumvented via third countries.
The adjustments will come
into force on 31 October 2024.
In accordance with the
provisions of the Ordinance, financial intermediaries are required to
implement the prohibitions, freeze the assets of the sanctioned
persons and report the affected business relationships to SECO.
Reporting to SECO does not release a financial intermediary from
carrying out additional investigations in accordance with Art. 6 AMLA
in the event of suspicions and, if it is unable to dispel them, from
immediately submitting a report to the Money Laundering Reporting
Office in accordance with Art. 9 AMLA.