Switzerland expands Ukraine crisis blacklist

AFP - [email protected] • 27 Aug, 2014 Updated Wed 27 Aug 2014 21:50 CEST
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Switzerland on Wednesday added 11 names and five banks to its blacklist over the Ukraine crisis in fresh moves to stop the country from being used to avoid EU sanctions against Russia.

The government in a statement said it had taken "all the measures required to ensure that the most recent sanctions imposed by the European Union cannot be circumvented via Swiss territory".
Switzerland, which is not a member of the European Union, has been wary of imposing broad sanctions against Russia over Ukraine, instead opting for targeted moves against individuals and firms.
It has also imposed measures to ensure its financial sector is not used to duck sanctions introduced by other countries.
On Wednesday the government added 11 more names to a swelling blacklist of people and organizations barred from entering into new business in Switzerland.
They included Russian President Vladimir Putin's former judo sparring partner Arkady Romanovich Rotenberg, whose companies won lucrative contracts ahead of the Sochi Olympic Games.
Senior Putin official Alexey Alexeyevich Gromov and Boris Litvinov of the Donetsk People's Republic will also see their names added to the 88 mainly Russian officials and pro-Moscow separatists on the list.
Five Russian banks will also need to seek authorization before issuing long-term financial instruments in Switzerland, although their local subsidiaries would be exempt as long as they were not acting on behalf of their parent company.
"In future, authorization for new issues will only be granted if they are within the average financial engagement of the past three years," the government said.
Exports that "are intended to be used exclusively or partially for military purposes, or if they are intended for a military end user" will also be banned, as will any war-related imports from Russia and Ukraine, the government said.



AFP 2014/08/27 21:50

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