Overview

• Switzerland chose not to fully adopt the latest EU sanctions package against Russia, omitting measures targeting subsidiaries in third countries.
• The Swiss government emphasized its unwavering commitment to sanctions but expressed concerns over the clarity of the EU's requirements.
• U.S. Ambassador Scott Miller criticized the decision, urging Switzerland to close loopholes that allow subsidiaries to circumvent sanctions.
• Switzerland maintains a policy of neutrality and has largely aligned with EU sanctions since the onset of Russia's war in Ukraine.
• The Swiss government continues to prosecute sanctions violations orchestrated from within the country and is investigating potential breaches by commodity traders.