Finance

Switzerland adopts more EU sanctions on Russia and Belarus

Published by Global Banking & Finance Review

Posted on December 23, 2024

1 min read

· Last updated: January 27, 2026

Add as preferred source on Google
Swiss and EU leaders discuss trade agreement to strengthen ties - Global Banking & Finance Review
Swiss President Viola Amherd and EU Commission President Ursula von der Leyen announce a historic trade agreement aimed at strengthening bilateral relations amid geopolitical tensions.
Global Banking & Finance Awards 2026 — Call for Entries

ZURICH (Reuters) - Switzerland adopted the latest EU sanctions package on Russia and Belarus, the government said on Monday. The move came one week after the European Union targeted Moscow's vessels

Switzerland Implements EU Sanctions on Russia and Belarus

ZURICH (Reuters) - Switzerland adopted the latest EU sanctions package on Russia and Belarus, the government said on Monday. The move came one week after the European Union targeted Moscow's vessels and Chinese entities found to have traded with the Russian military.

The Swiss government listed 54 persons and 30 companies and organisations, freezing their assets as of Dec. 24, and banned 52 ships from providing services.

"These are mainly tankers that are part of Russia's shadow fleet and are circumventing the price cap on Russian crude oil and petroleum products or transporting military goods for Russia or stolen grain from Ukraine," the Swiss statement said.

The sanctioned individuals will be barred from entering Switzerland.

In line with EU policy, Switzerland also adopted financial and travel sanctions against 26 individuals and two organisations from Belarus.

(Reporting by Ariane Luthi, Editing by Miranda Murray)

Key Takeaways

  • Switzerland adopts EU sanctions against Russia and Belarus.
  • 54 persons and 30 companies face asset freezes.
  • 52 Russian ships banned from services in Switzerland.
  • Sanctions target Russia's shadow fleet and military trade.
  • Belarus faces financial and travel restrictions.

Frequently Asked Questions

What is the main topic?
The article discusses Switzerland's adoption of EU sanctions on Russia and Belarus, targeting individuals and entities linked to military activities.
Who is affected by the sanctions?
The sanctions affect 54 individuals, 30 companies, and 52 Russian ships linked to military trade and activities.
Why are these sanctions imposed?
The sanctions aim to curb military activities and trade involving Russia and Belarus, aligning with EU policies.

Related Articles

More from Finance

Explore more articles in the Finance category