03 August 2022

Switzerland Approves Seventh Package of Sanctions Against Russia

International and Arabic
  • Russia

Bern, August 03 (QNA) - The Swiss government approved today the seventh package of sanctions imposed against Russia which includes a ban on the import of gold.
The Swiss State Secretariat for Economic Affairs said in a statement that Switzerland had frozen Russian assets worth 6.7 billion Swiss francs (more than 6.8 billion dollars) due to the sanctions by early July.
Switzerland has banned the export of luxury goods and a group of goods for the Russian industry, goods from which Switzerland says Russia receives significant income, as well as the prohibition of transactions with the Russian Central Bank, and the separation of some Russian banks from the "Swift" system for international banking transactions.
The Swiss government said that these measures came within the framework of the sanctions imposed on "Moscow", after they were imposed by the European Union; This is due to the Russian military operation launched since February 24 against Ukraine, which has been going on for more than five months.
The European sanctions range from banning oil exports, Russian gold, tying up the banking sector, preventing companies from major countries from dealing with the Russian market, in addition to banning dealing through the "Swift" system, freezing the assets of the Russian Central Bank in Western countries, as well as closing the atmosphere in front of Russian planes.
The Council of the European Union adopted on the third of last June a sixth package of sanctions against Russia against the backdrop of its military operation in Ukraine, including a "deferred" embargo on the supply of oil and its seaborne products. (QNA)


Economy, International
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