Sanctions: Russia and Belarus

The Federal Council has on 25. February 2026 decided to implement the further measures of the 19. European Union (EU) sanctions package against Russia. The new measures take effect on 26. February 2026.

Already on the 12th On December 1, 2025, the Federal Council had included 64 natural persons and organizations in the Swiss sanctions list and adopted the first measures of the 19th century. Sanctions package adopted. Thus, around 2600 natural persons, companies and organizations in Switzerland are currently subject to the asset freeze in connection with the situation in Ukraine. The corresponding sanctions list is identical to that of the EU.

Among other things, measures were taken in the energy and financial sector as well as measures in the trade sector. To take into account the growing importance of cryptocurrencies for the Russian war economy, the provision of all crypto services to Russian nationals and companies is now prohibited. In addition, the Federal Council has decided on a ban on transactions with certain ruble-backed crypto assets, such as the stablecoin “A7A5”. At the same time, the Federal Council has extended the ban on the use of certain specialized messaging services for payment transactions. In the trade area, the list of goods that contribute to the military and technological strengthening of Russia has been expanded, including metals for the construction of weapons systems and products used in the manufacture of fuels. In addition, the Federal Council has subjected other goods that are important to Russia to the purchase and import bans. Newly recorded are, for example, acyclic hydrocarbons, which represent a significant source of income for Russia.

In accordance with the provisions of the Regulation, financial intermediaries are required to implement the prohibitions, to block the assets of the sanctioned persons and to report the business relationships concerned to SECO. The report to SECO does not relieve a financial intermediary from making additional clarifications in the event of suspicion in accordance with Art. 6 GwG and, if he cannot clear them, to report it immediately to the notification office for money laundering in accordance with Art. 9 GwG.

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