Switzerland has imposed new sanctions against Russia and reduced the marginal price for oil

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On August 12, Switzerland expanded the sanction lists, adding another 14 people and 41 organizations related to Russia.

Source: “European Truth” with reference to the official statement of the country’s government

Details: The Federal Department of Economics, Education and Research (EAER), which controls Switzerland’s sanctions, has expanded lists of sanctions against Russia. Thus, Switzerland adopted a number of amendments introduced by the European Union within the 18th Package of Sanctions.

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These measures come into force on August 12.

From this day, another 14 persons and 41 business entities are freezing assets and banning economic resources. These persons are also forbidden to enter and transit through Switzerland.

“Among the new sanctions are Russian and international companies that manage the vessels of the shadow fleet, merchants of Russian cheese oil and suppliers of the military-industrial complex of Russia, including those based in third countries,” the statement reads.

In addition, another 105 vessels from third countries now fall under a comprehensive ban on buying, selling and providing services. These are mostly tankers that are part of Russia’s shadow fleet, which bypasses the price of Russian crude oil and petroleum products, or transport military goods for Russia.

EAER also reduced the restriction on the price of Russian crude oil to $ 47.6 per barrel. At the same time, the statement noted that the restriction on the price of oil has come into force on September 3.

In the trade sector, 26 new entities, including some in third countries, are subject to more strict restrictions on export control, in particular for bypassing export restrictions on unmanned aerial vehicles.

Switzerland also adopted additional lists implemented on July 15 on Moldova and July 18 on Belarus.

In the context of Moldova: seven more and three organizations now fall under the freezing of assets and a ban on the provision of economic resources.

“These lists are directed against persons and organizations involved in the efforts of Russia to influence the referendum on Moldova membership in the EU and the 2024 presidential election,” the statement explained.

As for Belarus: eight Belarusian defense companies are now falling for assets and a ban on economic resources.

Recall:

• The European Union has reduced the upper limit of the price of Russian oil within the 18th package of sanctions, which was finally adopted on Friday. This was possible because Slovakia and Malta refused to block.
• On the same day, Britain announced that the EU’s decision to reduce the upper limit of the price of Russian oil transported by the sea.
• On August 9, it became known that Canada intends together with the EU and the United Kingdom further reduce the price limit for Russian oil.