Switzerland adopts eighth package of EU sanctions against Russia
On Nov. 23, 2022, the Swiss government announced it had adopted the remaining measures of the eighth package of European Union sanctions against Russia. The measures include, among other things, the introduction of a legal basis for placing price caps on Russian crude oil and petroleum products. The step was previously announced and yesterday outlined in more detail by the G7.
The decision also imposes restrictions on “iron and steel products, aerospace goods, and goods of economic importance to Russia”, and foresees bans on the provision of engineering, architectural, legal, or IT services to Russian companies and the Russian government.
The move makes Switzerland fully up to date with taking over the terms of the EU’s eighth package of sanctions. The bloc previously adopted the package on Oct. 6, 2022.