The Swiss Financial Market Supervisory Authority (FINMA) published an update on a Swiss Federal Council decision to lift certain sanctions measures against Syria by amending the 2012 ordinance on measures against Syria. The changes remove measures targeting the Syrian energy and transport sectors and allow certain financial services and banking relationships again. The easing aligns Switzerland with the European Union’s 24 February 2025 decision to relax its Syria sanctions in a similar way. Other provisions of the Syria ordinance, including additional financial and goods sanctions, are unchanged, and the relaxation does not release any frozen funds. The amendments enter into force on 7 March 2025 at 18:00.
Swiss Financial Market Supervisory Authority (FINMA) 2025-03-07
Swiss Financial Market Supervisory Authority highlights Swiss Federal Council easing of Syria sanctions for energy transport and certain financial services
The Swiss Financial Market Supervisory Authority (FINMA) announced amendments to the 2012 ordinance on measures against Syria, lifting sanctions on the Syrian energy and transport sectors. This aligns Switzerland with the European Union's decision to relax Syria sanctions. Other financial and goods sanctions remain unchanged, and frozen funds are not released.