Following the EU. Switzerland has introduced sanctions for import of Russian gold

Gold (photo: Reuters/Alexander Manzyuk) Following the European Union, Switzerland imposed sanctions for import of gold from Russia. This was reported by the press service of the Federal Council of Switzerland. Switzerland also mirrored European exceptions to sanctions on the supply of agricultural products and oil to third countries.

The so -called gold package of European sanctions was adopted at the end of July and proved to be significantly more modest than the previous six rounds of sanctions against Russia for attacking Ukraine. The ban on imports of ingots is symbolic because gold trade has been stopped by financial sanctions in the winter. On July 22, Switzerland purchased Russian gold for the first time after the start of a full -scale invasion of the Russian Federation into Ukraine.

On July 21, the European Union approved the seventh package of sanctions against Russia. The EU has introduced a ban on gold operations with the Russian Federation, including jewelry. The EU has also expanded the list of substantive goods that can contribute to the military-technical development of the aggressor country or its defense and security sector, strengthening the export control of dual-use goods and advanced technologies.