In view of the seriousness of the situation and in response to the ongoing military aggression in Ukraine, the EU adopted new sanctions against Russia (sixth package of sanctions) on 3 June.

The EU's sixth package of sanctions includes an embargo on crude oil and certain refined petroleum products from Russia. This embargo will be brought into force progressively in the EU, taking full effect by the beginning of 2023 following a number of transitional periods. In the financial sector, the provision of audit and business consulting services is now prohibited. The bans on the provision of services to trusts have been made more precise. In addition, the EU is prohibiting businesses from advertising in content produced or broadcast by certain Russian media such as Russia Today or Sputnik.

On 10 June, the Federal Council decided to adopt these measures and instructed the EAER to adapt the Ordinance on measures in connection with the situation in Ukraine. In addition, the EAER, together with the FDF and DETEC, will examine in detail the consequences for Switzerland of imposing the oil embargo.

Within the scope of its competences, the EAER also approved the sanctioning of over 100 further Russian and Belarusian individuals and entities. These include military personnel held responsible for the atrocities committed in Bucha, individuals active in the fields of politics and disinformation/propaganda, and certain oligarchs, including Aleksandra Melnichenko, and their family members. The Swiss list of sanctioned individuals and entities is thus identical to that of the EU. In addition, the exclusion of four new Russian and Belarusian banks - including Sberbank, Russia's largest bank - from the SWIFT financial messaging service was approved. Finally, the list of goods banned for export that could help to strengthen Russia in military and technological terms or to develop its defence and security sector, as well as the list of economically important goods banned for import, has been extended. These amendments will come into force at 6pm on 10 June 2022.

Ukraine: Federal Council adopts new EU sanctions against Russia and Belarus