Switzerland following the EU banned the import of gold from Russia

Switzerland joined the seventh package of EU sanctions against Russia, banning the import of gold and gold products from Russia.

About it on Wednesday officially reported Swiss government, Ukrinform reports.

“Given the ongoing military aggression of Russia against Ukraine, the Federal Council on August 3 imposed the following sanctions against Russia, along with the latest EU sanctions, they relate to gold and gold products,” the message says.

It is noted that the sanctions come into force from 19:00 (Kyiv time) on August 3.

Read also: The United States imposed sanctions against Alina Kabaeva

On July 21, the EU Council supported a proposal to strengthen the effectiveness of the six packages of sanctions imposed against Russia, the agency reported. In particular, a ban has been introduced on the purchase, import or transfer, directly or indirectly, of gold if it originates in Russia and has been exported from Russia to the EU or to any third country thereafter. This prohibition also applies to jewelry.

The new package of restrictive measures expands the list of controlled goods that can contribute to the military and technological improvement of Russia or the development of its defense and security sector, thereby strengthening the export control of dual-use and advanced technologies.

In addition, the new measures expand the current ban on access to ports to avoid circumvention of sanctions and expand the scope of the ban on accepting deposits, including from legal entities, organizations or bodies based in third countries and whose majority ownership is Russian citizens or individuals, living in Russia. Acceptance of deposits for non-prohibited cross-border trading will be subject to prior authorization by national competent authorities.

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