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Switzerland announced new sanctions against Russia on July 8, bringing the country further in line with the EU's 14th round of sanctions adopted in response to the Russian full-scale invasion of Ukraine.

The latest EU sanctions package aims to tackle the circumvention of existing measures and to further restrict profits from Russia's energy industry, adding 116 individuals and entities to the sanctions list.

The new Swiss sanctions target 69 individuals and 86 entities. Among the individuals are mainly businesspersons, propagandists, military personnel, members of the judiciary, those responsible for the forced deportation of Ukrainian children, and members of the Federal Security Service (FSB), the Swiss Economy Ministry said.

The Swiss Economy Ministry has also banned advertising on four Russian media outlets, namely Rossiyskaya Gazeta, Voice of Europe, RIA Novosti, and Izvestiya, due to "Russia's continuous propaganda and disinformation campaigns."

The EU banned the four outlets at the end of June.

The Swiss Federal Council "believes that it is more effective to counter false and harmful statements with facts rather than to prohibit them," and therefore, the media will not be subject to a ban in Switzerland.

The latest EU sanctions package added several additional measures, including prohibiting any EU facilities from being involved in the transshipment of Russian liquified natural gas (LNG) to any third-party countries.

The Swiss Federal Council "is currently examining these additional measures with a view to possibly adopting them," the Swiss Federal Economic Affairs Department said.

Switzerland has sanctioned more than 2,000 individuals and entities, in line with EU sanctions. The changes will take effect at 6 p.m. local time on July 9.

Bloomberg names 12 oligarchs who earn billions in payouts from Russia’s war economy
Russia’s wartime economy has earned a dozen oligarchs $11 billion in dividends as Russian natural resource and finance giants earn record profits during the full-scale invasion of Ukraine, Bloomberg reported on July 9.

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