Swiss government implements majority of restrictions included in the EU’s 20th sanctions package against Russia and Belarus, targeting individuals, companies, banks, shipping, and crypto-related transactions.
According to the Swiss authorities, the Federal Department of Economic Affairs, Education and Research (EAER) expanded sanctions lists in line with measures adopted by the EU on April 23, 2026. The new rules took effect at 23:00 on May 22.
Sanctions were imposed on 115 individuals and entities linked to Russia’s military-industrial complex and energy sector, as well as those involved in the deportation and indoctrination of Ukrainian children. Assets of sanctioned persons and companies will be frozen, and entry or transit through Switzerland is prohibited.
However, Switzerland did not yet include seven companies from third countries on the sanctions list, stating that operational measures already prevent circumvention.
In the trade sector, 60 companies (including from third countries) are subject to stricter export controls aimed at preventing the supply of critical goods to Russia’s defense industry.
Switzerland also joined EU measures targeting Russia’s “shadow fleet,” imposing restrictions on 46 additional vessels, including bans on purchase, sale, and services. At the same time, restrictions on 11 vessels were lifted in line with EU decisions. Transaction bans were also introduced for two Russian ports and one port in a third country used for oil transport, with limited exceptions aligned with EU rules.
Additionally, 20 Russian banks and 7 financial intermediaries in third countries were placed under transaction bans for helping bypass sanctions. From May 26, 2026, participation in transactions involving Russia’s RUBx cryptocurrency and the digital ruble will also be prohibited.
The government noted that the EU’s 20th sanctions package includes further measures in the financial, energy, and trade sectors, with the Federal Council set to review additional steps and provide updates.
