Switzerland Adopts EU's 20th Russia Sanctions Package, Banning Russian Crypto Assets and Adding 115 Designations
Switzerland has amended its 2022 regulation on measures relating to the situation in Ukraine, aligning with the European Union's 20th Russia sanctions package.
The key measures include:
Designations. 115 people and entities have been added to the Swiss sanctions list, targeting individuals and organisations connected to Russia's military-industrial complex and energy sector, as well as those involved in sanctions circumvention, cultural appropriation in occupied Ukraine, propaganda, and the deportation and indoctrination of Ukrainian children.
Vessel restrictions. 46 vessels are now subject to bans on purchase, sale, and related services. Bans on 11 previously listed vessels have been lifted. Additionally, 2 Russian ports and 1 third-country port are now subject to a transaction ban.
Financial sector. 20 Russian banks and 7 financial intermediaries operating in third countries are now subject to a transaction ban.
Crypto asset prohibitions. From 26 May 2026, transactions involving three Russian crypto assets are banned: A7A5 — a stablecoin collateralised by state-owned Promsvyazbank — RUBx, and the Digital Ruble.
Export controls. 60 additional companies are now subject to stricter export control measures.
The key measures include:
Designations. 115 people and entities have been added to the Swiss sanctions list, targeting individuals and organisations connected to Russia's military-industrial complex and energy sector, as well as those involved in sanctions circumvention, cultural appropriation in occupied Ukraine, propaganda, and the deportation and indoctrination of Ukrainian children.
Vessel restrictions. 46 vessels are now subject to bans on purchase, sale, and related services. Bans on 11 previously listed vessels have been lifted. Additionally, 2 Russian ports and 1 third-country port are now subject to a transaction ban.
Financial sector. 20 Russian banks and 7 financial intermediaries operating in third countries are now subject to a transaction ban.
Crypto asset prohibitions. From 26 May 2026, transactions involving three Russian crypto assets are banned: A7A5 — a stablecoin collateralised by state-owned Promsvyazbank — RUBx, and the Digital Ruble.
Export controls. 60 additional companies are now subject to stricter export control measures.
- Switzerland has chosen not to adopt 7 third-country company listings that were included in the EU package.
