The Swiss Government has strengthened sanctions against the Russian Federation, reports the website of the Federal Council of the country.

In particular, eleven names of persons and the names of five banks were added to the already existing list of sanctions. Making business with these individuals and organizations is limited, development of new financial relationships with them is forbidden, and it is required to notify the authorities on the existing contacts, the report said.

Banks under sanctions will be required to obtain a permit for issue of long-term financial instruments in the country. Such decision was taken by Swiss authorities with the view that the territory of Switzerland was not used to circumvent the sanctions imposed by the European Union against Russia because of the situation in Ukraine.

In addition, Switzerland has banned the import of materials for military purposes from Russia, as well as stopped export of equipment for the oil industry.

Previously, the Swiss Federal Council instructed the Department of economics, education and research in the country to introduce additional measures for supporting the EU sanctions against Russia.

Material has been prepared by the Centre of Geopolitical Studies with reference to the article from «Дождь» of 27 08 2014

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