Switzerland banned the import of gold from Russia and froze the assets of Sberbank

Following the EU, the Swiss authorities adopted the seventh package of anti-Russian sanctions due to the ongoing war in Ukraine, they include an embargo on gold supplies from Russia. This is stated in a statement by the Swiss government.

According to the statement, “a ban on the purchase, import or transportation of gold and gold products from Russia” comes into force on August 3. Services related to these products are also prohibited.

In addition, Switzerland decided to freeze the assets of Sberbank, it is forbidden to "provide funds, economic resources or technical services."

"The list of individuals and organizations subject to Swiss sanctions in connection with the situation in Ukraine is fully consistent with the EU list."

In June, it became known that several tons of Russian gold had disappeared in Switzerland: after being imported into the country, none of the local companies that could work with such volumes of the precious metal announced that they had received it. This was reported by the local association of manufacturers and merchants of precious metals (AFCMP). Before the war, Switzerland was one of the largest importers of Russian gold. In January, 4 tons were imported from Russia, and in December 2021, a record 4.6 tons.

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