Switzerland to adopt EU's 20th sanctions package against Russia

GENEVA, Switzerland — The Swiss Federal Council has approved additional measures under the European Union's 20th sanctions package against Russia, with the new restrictions set to take effect on August 20, 2026, according to a government statement. Under the decision, Bern will ban the provision of services in the energy sector to Russian gas tankers, icebreaker vessels and liquefied natural gas facilities. Sales of oil tankers to Russia will also be prohibited, and contracts for tanker sales to third countries will be required to include a clause barring their resale to Russia. The government said some measures, including the ban on services to LNG facilities, will enter into force on January 1, 2027, while other provisions will take effect on September 1 and September 21, 2026. In the financial sector, the package will ban the use of Russian crypto-asset platforms and support for the development of certain digital assets. Switzerland implemented the first part of the EU's 20th sanctions package on May 22, adding 115 individuals and 60 entities linked to Russia's military-industrial complex and energy sector to its sanctions list.