Switzerland has tightened its financial sanctions against Belarus, the government said today, citing the Eastern European country’s support for Russian invasion of Ukraine.
THE neutral Switzerland has fully adopted the economic sanctions against Belarus, which have already been imposed by the EU on 2 and 9 May.
The sanctions, which take effect today, are mainly commercial and economic, Switzerland said, and include a ban on commercial exports of dual-use items that can be used for both military and political purposes.
The ban on imports into Switzerland has also been extended to include Belarusian wood products and articles made of rubber, iron, steel and cement.
The provision of public funding or financial assistance is prohibited, the government announced, while restrictions apply to securities, loans and the acceptance of deposits.
Transactions with the Central Bank of Belarus are also no longer allowed.
Swiss companies have reduced their operations in Belarus and yesterday the railway company Stadler Rail announced that it will temporarily suspend the operation of its plant near Minsk.
In a move that does not characterize its traditional neutralitySwitzerland has adopted EU sanctions on Russians and companies and frozen their assets to punish Moscow for its invasion of Ukraine.
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