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Sanctions (embargos)

In Switzerland, the legal basis for the enforcement and implementation of international sanctions against certain states is the Federal Act on the Implementation of International Sanctions (the Embargo Act). The Embargo Act is a framework law that governs generally applicable matters (e.g. purpose, scope of authority, duty of disclosure, supervision, data protection, administrative and legal assistance, legal protection, and criminal provisions). Specific compulsory measures are enacted in separate ordinances.

Sanction ordinances of this kind are enacted by the Federal Council and implemented by the State Secretariat for Economic Affairs (SECO). The names of the individuals, legal entities, groups and companies affected are given in the annexes to each ordinance. The annexes are updated regularly.

Other blocking measures

Where necessary to protect the interests of the country, the Federal Council can issue independent blocking measures under Swiss law. The Directorate of International Law of the Federal Department of Foreign Affairs (DFA) is responsible for implementing the relevant ordinances. The annexes to these ordinances are also updated regularly.

The News Service platform enables FINMA to inform affected financial intermediaries about any changes to financial sanctions. Please use this link to sign up for FINMA's News Service and subscribe to "International sanctions".

Countries affected by SECO sanctions
FINMA News on sanctions (embargos)