Switzerland aligns with EU's 16th sanctions package against Russia

Switzerland has significantly expanded its sanctions list against Russia, introducing several new restrictive measures that were previously approved by the EU under the 16th sanctions package targeting the Russian Federation. 

The new sanctions, which will take effect at 22:00 (GMT+1), were confirmed by the Swiss government’s official website, Caliber.Az reports via Russian media.

These measures include the freezing of assets and real estate of 35 companies and 48 individuals, along with a ban on these individuals' entry and transit through Switzerland. Swiss authorities emphasized that many of those affected by the sanctions are individuals with ties to Russia's military sector.

In addition, three Russian banks have been prohibited from carrying out financial transactions, as they rely on Russia's alternative to the SWIFT system—the System for Transfer of Financial Messages (SPFS). 

Furthermore, starting from March 17, 2025, 13 additional Russian banks will be banned from using SWIFT for international transactions. The expanded sanctions also target 74 vessels from third countries, which are believed to be part of Russia's "shadow fleet." In response to the increased efforts to curb Russia’s access to critical resources, Switzerland has imposed stricter export control measures on 53 more organizations linked to these activities.

By Naila Huseynova