Switzerland Expands Russia Sanctions, Lowers Oil Price Cap

On August 12, 2025, Switzerland expanded its sanctions against Russia by adopting the European Union’s 18th sanctions package, adding 14 individuals and 41 entities to its sanctions list. These new sanctions include asset freezes, bans on providing economic resources, and restrictions on entry and transit through Switzerland for the targeted individuals and organizations, which include Russian and international companies operating shadow fleet vessels, crude oil traders, and suppliers to Russia’s military-industrial complex. Switzerland also imposed comprehensive bans on 105 vessels from third countries, mainly tankers part of Russia's shadow fleet used to circumvent price caps or transport military goods. Additionally, the Swiss government lowered the price cap on Russian crude oil to $47.60 per barrel, effective from September 3, aligning with the EU's new rules. The sanctions package also extends to stricter export controls on entities involved in circumventing bans on unmanned aerial vehicles and includes measures targeting individuals and organizations in Moldova and Belarus linked to Russian influence efforts. This marks Switzerland's continued alignment with EU policy despite its traditional neutrality, responding to Russia's ongoing war against Ukraine.