Internationales Insolvenzrecht der Schweiz und der Vereinigten Staaten, Schweizer Studien zum internationalen Recht

Published: 10 February 1990

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Insights

Insights – 21.10.2024

Swiss sanctions against Russia – Further implementation of the EU 14th Sanctions Package

Swiss sanctions against Russia – Further implementation of the EU 14th…

In a continued effort to align with European Union ("EU") sanctions, on 16 October 2024, the Swiss Federal Council implemented most of the outstanding measures from the EU 14th sanctions package, with certain adjustments reflecting Switzerland's own legal and economic considerations. Notably, Switzerland chose not to implement EU equivalent measures related to foreign subsidiaries of Swiss companies, a key point of divergence from the EU framework. The new restrictions, which primarily focus on export controls, financial services and maritime regulations came into force on 17 October 2024.

Insights – 26.08.2024

Swiss sanctions against Russia – Partial implementation of the EU 14th Sanctions Package

Swiss sanctions against Russia – Partial implementation of the EU 14th…

On 21 August 2024, the Swiss Federal Council adopted a new set of sanctions against Russia, further aligning the Swiss sanctions with the European Union's 14th sanctions package. The newly adopted restrictions focus on several key areas, including a ban on Russian diamonds, extended deadlines for divestment transactions approval, and stricter financial and export controls. They are set to enter into force on 27 August 2024. Earlier this summer, SECO updated its "frequently asked questions" (FAQ) document to include clarifications on the definitions of ownership and control, as well as to address "ring-fencing" or "firewall" measures mitigating the effects of control, particularly concerning Swiss entities.
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