Federal Council tightens sanctions against Belarus
On 2 and 9 March 2022, the EU extended its sanctions against Belarus in view of the country’s involvement in Russia’s serious human rights violations in Ukraine. In particular, the new measures impose restrictive measures on 160 individuals by amending Regulation 765/2006 concerning restrictive measures in view of the situation in Belarus. On 16 March 2022, the Federal Council took the decision to adopt these measures in full and amended the Ordinance on measures against Belarus, which is in force since the year 2006. The measures would mainly concern trade and financial sanctions like the measures already imposed on Russia by the EU and Switzerland.
The export of all dual-use items (civilian or military) to Belarus is now prohibited, regardless of their end-use or end-user. In addition, the export of goods that could contribute to Belarus’s military and technological enhancement or the development of the defence and security sector is prohibited. In this context, it is also prohibited to provide technical assistance, brokering services or financing. According to the Federal Council’s press release, import bans in place against Belarus shall also be extended. These bans now also apply to wood products, products made of rubber, iron and steel, and cement.
In addition, the provision of public financing or financial assistance for trade with or investment in Belarus is prohibited. Other restrictive measures in the financial sector concern securities, loans, and the acceptance of deposits. Transactions with the Belarusian Central Bank are also no longer permitted. Furthermore, listed Belarusian banks are excluded from SWIFT, the international messaging system for financial transactions.
These are the upcoming dates for our Annual General Meetings:
Thursday, 24 March 2022
Thursday, 23 March 2023