Switzerland adopts 20th sanctions package against Russia

The Swiss Federal Council has decided to adopt the 20th sanctions package against Russia, aligning with measures established by the European Union in response to the ongoing war in Ukraine. The new restrictions, effective August 20, 2026, target Russia's energy, financial, and trade sectors.

In the energy sector, Switzerland has introduced service prohibitions regarding liquefied natural gas (LNG) tankers, icebreakers, and Russian-based LNG terminals. The sale of tankers to Russia is now prohibited, and sales agreements to third countries must include clauses preventing the transfer of these vessels to Russia.

To prevent the circumvention of existing sanctions, Switzerland is activating an anti-circumvention tool. This includes banning the export of certain sensitive goods to Kyrgyzstan and expanding prohibitions on goods that strengthen Russia's military, technological, or industrial capabilities. Additionally, imports of goods that generate significant revenue for Russia will be restricted.

In the financial sector, the Council has banned the use of Russian platforms for the transfer and exchange of crypto-assets to prevent the use of alternative payment methods. The measures also prohibit support for the development of specific Russian cryptocurrencies, such as the digital ruble.