GENEVA, 28 Jun Switzerland has not yet joined the measures contained in the 11th EU sanctions package against Russia, as such a decision requires adaptation of Swiss law, only a new list of persons subject to sanctions was adopted, said Fabian Mayenfisch, spokesman for the Swiss State Secretariat for Economic Affairs (SECO).
«»The list of persons and companies under sanctions can be quickly adapted and adopted. Other EU measures must first be adopted in Swiss law and in any case require the decision of the Federal Council. The Federal Council will discuss the 11th package in due course and then take a decision,» — he clarified. data-title=»Hungary will not support sanctions against Russian nuclear energy»>
Switzerland added 71 individuals and 33 Russian companies to its sanctions list following the EU, a statement released on Wednesday on the website of the country's Federal Council said that the decision to fully join the EU's 11th round of sanctions against Russia would be made in August.
Last week, the Swiss Ministry of Economy said the country welcomes the EU's decision to add it to its list of partner countries imposing sanctions against Russia, which indicates the close cooperation between Bern and Brussels.
Switzerland has joined almost all European sanctions against the Russian Federation since February 24, 2022. Bern blocked $8.1 billion worth of Russian assets as part of the sanctions. The Swiss bank Credit Suisse (CS) has blocked or frozen more than a third of Russian assets registered in Switzerland — 17.6 billion francs (over $19.7 billion).
The West has stepped up sanctions pressure on Russia because of Ukraine, which led to higher prices for electricity, fuel and food in Europe and the United States. Russian President Vladimir Putin has previously stated that the policy of containment and weakening of Russia is a long-term strategy of the West, and sanctions have dealt a serious blow to the entire global economy. According to him, the main goal of the West is to worsen the lives of millions of people. Russia has repeatedly stated that Russia will solve all the problems that the West creates for it.