Switzerland joins the new EU sanctions against Russia: it has lowered the price ceiling for oil

Switzerland has joined the 18th package of EU sanctions against Russia adopted on July 18 in response to the full-scale war against Ukraine. About this said the press service of the government of the country.

According to the Swiss Federal Department of Economics, Education and Research, the new restrictions came into effect on Tuesday, August 12.

The country added another 14 individuals and 41 companies to its sanctions lists, including Russian and international firms that operate a "shadow fleet" to circumvent the price cap on Russian oil, trade in it, or supply equipment to the Russian military-industrial complex, including companies from third countries.

Also, 105 vessels from third countries were banned from buying, selling and servicing. These are mainly tankers carrying Russian oil or military goods.

In addition, Switzerland has lowered the ceiling price for Russian oil to $47.6 per barrel. The new limit will be effective from September 3.

In addition, 26 companies (including those outside of Russia) were placed under stricter export controls due to attempts to circumvent the ban on drone supplies.

Switzerland has also introduced additional sanctions imposed by the EU against Moldova and Belarus.

In the case of Moldova, sanctions were imposed on seven individuals and three companies involved in Russia's attempts to influence the EU accession referendum and the 2024 presidential election. As for Belarus, restrictions were imposed on eight defense companies.

• On August 8, Ukraine introduced new sanctions against Russia. The list includes 46 people and 305 companies, including the Serbian NIS.