Switzerland introduces new sanctions against Russia

Switzerland has introduced new sanctions against Russia and Belarus, in particular, the ban on import of Russian coal and caviar, the government of Switzerland said on Wednesday.

"The new measures include far-reaching sanctions on goods, including a ban on imports of lignite and coal as well as on goods that are important sources of revenue for Russia (e.g. timber, cement, seafood, caviar)," the Swiss government said. "In addition, there are export bans on goods that can help strengthen Russia's industrial capacities (e.g. industrial robots or certain chemical products)," it noted.

Further sanctions were introduced in the financial sector. "Any support to Russian entities in public ownership or under public control will be prohibited. With immediate effect, trusts may no longer be registered in Switzerland for Russian nationals or natural or legal persons resident in Russia. Various services for such trusts will also be prohibited," the Swiss government said.

Sanctions against Belarus comprises bans on the export of banknotes and the sale of securities to Belarusian nationals, residents and legal entities in all currencies of EU member-states and not only in Swiss francs.