The Swiss Financial Market Supervisory Authority (FINMA) published an update on Switzerland’s adoption of further measures from the European Union’s 18th sanctions package against Russia, as well as additional measures against Belarus. The Swiss Federal Council amended the Ordinance on measures in connection with the situation in Ukraine, with measures focusing on goods, finance and energy and entering into force on 30 October 2025. Export restrictions were further tightened for goods intended to strengthen Russia’s industry and its military and technological capabilities, including newly covered chemical components for fuels and certain metals and plastics. In the financial sector, the existing prohibition for 23 banks on providing specialised financial messaging services for payment transactions was expanded into a full transaction ban, and a transaction ban was newly introduced for 22 additional Russian banks. Restrictions related to the Russian Direct Investment Fund (RDIF) were also tightened by extending an existing ban on investments in RDIF co-financed projects (in place since 4 March 2022) into a prohibition on all transactions with the RDIF, its sub-funds and companies. Financial intermediaries are required to implement the prohibitions, freeze the assets of sanctioned persons, and report affected business relationships to SECO. Reporting to SECO does not remove the obligation to carry out additional clarifications where there are suspicions under Article 6 of the Anti-Money Laundering Act (GwG) and, if those suspicions cannot be resolved, to file a report with the Money Laundering Reporting Office under Article 9 GwG.
Swiss Financial Market Supervisory Authority (FINMA) 2025-10-30
Swiss Financial Market Supervisory Authority outlines Swiss alignment with the EU’s 18th Russia sanctions package including transaction bans for 45 Russian banks and the RDIF
The Swiss Financial Market Supervisory Authority (FINMA) announced Switzerland's adoption of the EU's 18th sanctions package against Russia and additional measures against Belarus, effective 30 October 2025. Key measures include tightened export restrictions on goods for Russia's industry and military, expanded transaction bans on Russian banks, and a prohibition on all transactions with the Russian Direct Investment Fund. Financial intermediaries must implement these prohibitions, freeze sanctioned assets, and report to SECO, while fulfilling obligations under the Anti-Money Laundering Act.