Updated sanctions notification: Russia
On 12 February 2025, the Federal Council decided to join the measures
of the EU's 15th package of sanctions against Russia. As early as 23
December 2024, 54 natural persons and 30 companies and organisations
were added to the Swiss sanctions list against Russia. To this end,
the Federal Council has amended the Ordinance on Measures in
Connection with the Situation in Ukraine (SR 946. 231. 176. 72).
It is now prohibited to recognise and enforce certain Russian
court decisions by which Russian courts claim their exclusive
jurisdiction over disputes between Russian and Swiss companies. This
ban is intended to protect the rights of Swiss companies and protect
companies from unjustified financial damage. The amendment to the
Ordinance on Measures in Connection with the Situation in Ukraine also
includes the extension of various exemptions that allow Swiss
companies to withdraw investments from Russia in an orderly manner.
These measures will come into force on February 13, 2025.
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.