Switzerland publishes guide to help interpret Ukraine-related sanctions
Switzerland’s Federal Department of Economic Affairs (‘EAER’) has published a document for individuals and businesses to help better understand sanctions in connection with Ukraine.
The EAER said the document, ‘Interpretative aid for sanction measures,’ contains ‘important information for the interpretation of the asset freeze provisions [that] apply to all sanctions ordinances that contain provisions on the freezing of funds and economic resources.’
It also contains information clarifying the various articles of the sanctions in connection with Ukraine.
In comments translated from German, EAER said that the guide, published 1 September, is not legally binding and compliance with the provisions of the regulations is the sole responsibility of the individuals and entities concerned.
‘The Swiss authorities are endeavouring to bring the implementation of the sanctions measures as closely as possible to the implementation practice in the EU and are in contact with the responsible bodies of the EU to this end,’ it said.
