Switzerland joins latest EU sanctions against Russia

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The ninth round of Ukraine-related penalties had earlier been adopted by the bloc

Switzerland has adopted the expanded anti-Russia sanctions, in line with the latest measures passed by the European Union, the Swiss Federal Council announced on Friday.

The announcement comes shortly after the European Council passed its ninth package of penalties over Moscow’s military operation in Ukraine. The new measures include export controls and restrictions on dual-use goods and technology, and on goods and technology that could be used in the defense and security sector.

The expanded penalties also include the blacklisting of 168 Russian enterprises, export bans on goods and technology related to the aviation and space sectors, imposition of an asset freeze on two more banks and the recalling of broadcasting licenses from several Russian media outlets.

The Swiss government’s statement highlighted that Brussels agreed to apply new sanctions relating to a price cap on Russian crude oil and petroleum products.

“This extends the ban on transporting such products sold above the price cap to trade and brokering services,” the statement read.

Earlier this month, the EU, the G7 countries, Australia and Norway introduced the price cap of $60 per barrel on Russian seaborne oil, forcing Western businesses providing insurance and other services to stay away from tankers loaded with Russian oil, unless the cargo is bought at or below the price set.

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