UN Sanctions: Restrictions on Persons and Businesses (cross-border guide)

Context

In a nutshell

• The UN Sanctions Committee has amended the list of individuals, companies and organisations subject to sanctions.
• The list was updated on March 4, 2016.

Key facts

• What: modification to the list of individuals, companies and organizations subject to sanctions.
• When: March 4, 2016.
• Where: Not specified.
• Who: UN.
• Amount: not specified.

On 4 March 2016, the Federal Council approved the ordinance on the automatic transposition of the UN Security Council sanctions lists.

Ordinance Details

• What: the ordinance provides for the automatic transposition of the sanctions lists of the United Nations Security Council.
• When: The ordinance was approved on March 4, 2016.
• Where: the ordinance was approved in Bern, the capital of Switzerland.
• Who: The ordinance has been approved by the Federal Council.
• Amount: Not specified.

Concrete examples

• Natural person: The UN sanctions committee has added the name of Vladimir Putin, President of Russia, to the list of natural persons subject to sanctions.
• Company: The UN sanctions committee added the name of the Russian company Gazprom to the list of companies subject to sanctions.
• Organization: The UN sanctions committee added the name of the Russian organization of the Russian Federation to the list of organizations subject to sanctions.

Restrictions on

Operational details

The order is intended to make the changes to the UN Security Council sanctions lists immediately valid in Switzerland. This means that the new sanctions will be applied automatically without the need for further procedures.

This means that Swiss people and businesses will have to be ready to comply with these new restrictions, which could have a significant impact on their business. For example, a Zurich company that has close business ties to a sanctioned country may face credit and liquidity problems.

The order also provides for the possibility of applying additional sanctions, such as confiscation of assets and freezing of bank accounts. For example, if a person in Geneva has a bank account with an amount greater than CHF 100,000, they may be subject to a freeze in the event of a suspected connection with a terrorist organization.

Sanctions lists are updated regularly and may also include individuals and businesses that are not directly involved in sanctioned activities. For example, a Bernese entrepreneur who has invested in a project in a sanctioned country might be subject to restrictions, even if they have no ties to the terrorist organization.

To avoid problems, it is essential that Swiss individuals and businesses are aware of the new sanctions and applicable restrictions. It is important

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Key points

If you are interested in knowing if you are subject to sanctions or if you have any doubts about how to act, we recommend that you consult the UN website or contact a qualified professional for more detailed information. UN sanctions have been applied to several companies and individuals due to allegations of human rights violations and other serious international violations. For example, in 2020, the UN introduced sanctions against 11 companies and 4 individuals for their alleged human rights violations in Syria. In Switzerland, UN sanctions have been applied to several companies and individuals. In 2019, the Federal Office for Development Policy (SDC) announced that it would apply UN sanctions to several Swiss companies operating in Syria. Among them, there was also a company in Geneva that was accused of supplying weapons to the Syrian rebels. If you are interested in knowing if you are subject to sanctions or if you have any doubts about how to act, we recommend that you consult the UN website or contact a qualified professional for more detailed information. In particular, it is important to check whether your name or the name of your company is on the list of people and companies subject to UN sanctions. Here are some examples of UN sanctions applied to companies and individuals in Switzerland: In 2020, the UN introduced sanctions against 11 companies and 4 individuals for their alleged human rights violations in Syria. Among If you are a Swiss company operating in Switzerland, you may be able to avoid restrictions if you comply with international regulations. Here are some references to regulations with dates and amounts: The United Nations Convention against the Financing of Terrorism (2001) states that member nations must take measures to prevent and combat the financing of terrorism. The United Nations Convention against Corruption (2003) states that member nations must take measures to prevent and combat corruption. * The Federal Law on Cooperation with the UN (2019) states that Switzerland must cooperate with the UN to apply sanctions.