Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Liste der sanktionierten natürlichen Personen, Unternehmen und Organisationen der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08), publiziert.
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Liste der sanktionierten natürlichen Personen, Unternehmen und Organisationen der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Gruppen, die mit den Taliban in Verbindung stehen (SR 946.231.07), publiziert.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung der Anhänge 3, 12, 13 und 14 der Verordnung vom 12. Dezember 2025 über Massnahmen gegenüber der Islamischen Republik Iran (SR 946.231.143.6) publiziert.
AI Analysis
Switzerland's State Secretariat for Economic Affairs (WBF) has updated sanctions targeting the Islamic Republic of Iran, effective March 10, 2026 at 23:00 UTC, modifying annexes 3, 12, 13, and 14 of the Iran sanctions ordinance (SR 946.231.143.6). This represents a comprehensive revision of Iran-related financial restrictions that requires immediate compliance action from all Swiss financial intermediaries to freeze assets, implement prohibitions, and report affected business relationships.
What Changed
The regulatory update encompasses four substantive modifications:
Annex 3: Expansion of the goods list subject to export/import restrictions
Annexes 12, 13, and 14: Updates to the list of sanctioned persons, enterprises, and organizations subject to asset freezing and transaction prohibitions
SESAM Database: The Swiss sanctions management database (SECO Sanctions Management) has been updated to reflect all changes, published urgently on the WBF website
The changes represent a total revision of Iran sanctions that the Federal Council decided upon on December 12, 2025.
What You Need To Do
*Implement Prohibitions
*Asset Freezing
*Mandatory Reporting to SECO
*Enhanced Due Diligence
*Suspicious Activity Reporting
Key Dates
March 9, 2026– WBF published updated sanctions list and modified SESAM database
March 10, 2026, 23:00 UTC– Effective date for all regulatory changes (enforcement begins)
Immediate– Financial intermediaries must implement prohibitions and freeze assets upon effectivenessDEADLINE
Der Bundesrat hat am 25. Februar 2026 beschlossen, die weiteren Massnahmen des 19. Sanktionspakets der Europäischen Union (EU) gegenüber Russland zu übernehmen. Die neuen Massnahmen treten am 26. Februar 2026 in Kraft.
AI Analysis
Switzerland's Federal Council adopted additional measures from the EU's 19th sanctions package against Russia and Belarus on February 25, 2026, effective immediately on February 26, 2026, expanding asset freezes to approximately 2,600 persons, entities, and organizations. This matters for Swiss financial intermediaries as it introduces new prohibitions on crypto services to Russian nationals and firms, transactions with ruble-pegged stablecoins like "A7A5", and extended bans on specialized messaging services for payments, alongside trade restrictions, requiring urgent asset screening and reporting to SECO.
What Changed
Crypto Restrictions: Complete ban on providing any crypto services to Russian nationals and companies; prohibition on transactions involving specific ruble-backed crypto assets, such as the stablecoin "A7A5".
Payment Systems: Expansion of bans on using certain specialized messaging services for payment traffic.
Trade/Goods Bans: Expanded list of goods contributing to Russia's military/technological strengthening, including metals for weapon systems, fuel production products, and acyclic hydrocarbons (key revenue source for Russia); additional goods added to purchase/import bans.
Sanctions...
What You Need To Do
Implement all prohibitions immediately
Screen and freeze assets of sanctioned persons/entities (~2,600 total); report affected business relationships to SECO
Conduct additional due diligence under Art
Update sanctions screening tools, client onboarding, and transaction monitoring for new crypto/trade restrictions; review exposures to energy/finance goods listed
Key Dates
26 February 2026- New measures from EU 19th sanctions package enter into force in Switzerland.
12 December 2025- Initial adoption of partial 19th package measures, adding 64 persons/organizations to Swiss sanctions list.
13 December 2025- Entry into force of December 2025 sanctions expansions (related prior update).
Compliance Impact
Urgency: Critical - Effective today (26 February 2026), requiring immediate asset freezes, service halts, and SECO reporting to avoid violations punishable by fines up to CHF 540,000 or 5 years imprisonment (severe cases referred to federal prosecutor); GwG suspicions add AML reporting layers with CHF 100,000 fines for non-reporting. Crypto bans directly target growing evasion risks, amplifying exposure for digital asset firms amid Russia's war economy circumvention tactics.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung vom 25. Mai 2025 über Massnahmen gegenüber Sudan (SR 946.231.18) publiziert.
AI Analysis
This FINMA publication announces an update to the Swiss sanctions list for Sudan following changes by the UN Sanctions Committee on February 24, 2026, directly incorporated into Switzerland's SESAM database by SECO on February 25, 2026. It matters because financial intermediaries must immediately freeze assets of newly listed parties and report to SECO, while continuing AML due diligence under the GwG (Anti-Money Laundering Act), to avoid enforcement risks from non-compliance with Embargo Act (EmbG) obligations.
What Changed
The UN Sanctions Committee for Sudan amended its list of sanctioned natural persons, companies, and organizations on February 24, 2026.
SECO updated the SESAM (SECO Sanctions Management) database and published the changes on its website on February 25, 2026.
This triggers direct applicability in Switzerland under the Federal Council's 2016 ordinance for automatic adoption of UN sanctions lists, amending Annex of SR 946.231.18 (Ordinance on Measures against Sudan).
Financial intermediaries are required to implement prohibitions, freeze assets, and report affected business relationships to...
What You Need To Do
Screen client portfolios, accounts, and transactions against the updated SESAM Sudan list via SECO's website or MyFINMA notifications
Freeze (block) assets of any matches and implement transaction prohibitions per the ordinance
Report affected business relationships to SECO promptly
Conduct additional due diligence under Art
Monitor FINMA's sanctions page for ongoing updates: https://www
Key Dates
February 24, 2026- UN Sanctions Committee amends Sudan list.
February 25, 2026- SECO updates SESAM database and publishes on its website; changes directly applicable in Switzerland.
Immediate (upon publication)- Financial intermediaries must freeze assets and report to SECO; no fixed deadline specified, but "unverzüglich" (without delay) for GwG AML reporting if suspicions persist.DEADLINE
Urgency: High - Changes are directly applicable with no grace period, requiring immediate asset freezes and reporting to mitigate FINMA enforcement risks (e.g., coercive measures under administrative law). Non-compliance exposes firms to supervisory sanctions, reputational damage, and potential criminal liability under EmbG/GwG, especially amid frequent UN list updates (e.g., recent February 18 change). Firms with Sudan exposure or high-risk clients must prioritize automated screening tools and training.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen des Anhangs 8 der Verordnung vom 4. März 2022 über Massnahmen im Zusammenhang mit der Situation in der Ukraine (SR 946.231.176.72) publiziert.
AI Analysis
On February 23, 2026, Switzerland's State Secretariat for Economic Affairs (SECO) updated Annex 8 of the Ukraine Sanctions Ordinance (SR 946.231.176.72), with changes taking effect on February 24, 2026 at 11:00 PM UTC. This represents the latest iteration of Switzerland's Russia sanctions regime, requiring financial intermediaries to immediately implement new prohibitions, freeze assets of designated persons, and report affected business relationships to SECO—with mandatory additional due diligence under anti-money laundering law if suspicions cannot be resolved.
What Changed
The February 2026 update to Annex 8 of the Ukraine Sanctions Ordinance introduces modifications to Switzerland's designated persons and entities list related to Russia sanctions. While the specific additions are not detailed in the available materials, this follows the pattern established by the December 12, 2025 expansion, which added:
22 natural persons and 42 companies/organizations subject to asset freezes and supply prohibitions
116 vessels (primarily tankers in Russia's shadow fleet circumventing oil price caps) subject to purchase, sale, and service prohibitions
45 companies in third...
What You Need To Do
*Implement all prohibitions specified in updated Annex 8 across all business lines and customer relationships
*Freeze assets of all newly designated natural persons and entities; block transactions with designated entities
*Report to SECO all affected business relationships within required timeframes, documenting:
Customer identification and beneficial ownership
Transaction history with designated parties
Key Dates
February 23, 2026– SECO publishes Annex 8 amendments on its website
February 24, 2026, 11:00 PM UTC– Changes take effect; financial intermediaries must immediately implement all prohibitionsDEADLINE
H2 2026– New organizational obligations under revised Money Laundering Act (GwG) requiring sanctions violation prevention measures take effect
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung (WBF) hat den Anhang 2 der Verordnung vom 25. Mai 2005 über Massnahmen gegenüber Sudan (SR 946.231.18) geändert.
AI Analysis
The Swiss Federal Department for Economic Affairs, Education and Research (WBF) has amended Annex 2 of the Ordinance of 25 May 2005 on Measures against Sudan (SR 946.231.18), updating Switzerland's sanctions list in alignment with UN and international developments. This matters for Swiss financial institutions as it imposes immediate asset freeze and reporting obligations on newly designated individuals and entities linked to threats against Sudan's peace and security, including RSF support and mercenary activities. Compliance teams must screen and act swiftly to avoid FINMA enforcement under supervisory law.
What Changed
Amendment to Annex 2 of SR 946.231.18 by WBF, adding seven individuals to the Sudan sanctions list, mirroring recent UN-aligned updates (e.g., UK additions on 5 February 2026 for persons like Alvaro Andres Quijano Becerra and Abu Aqla Mohamed Kaikal involved in RSF support, mercenary enlistment, and financial services to armed groups).
Sanctions include asset freezes, prohibitions on dealings with designated persons' funds or economic resources, and mandatory reporting to authorities, consistent with Switzerland's implementation of UNSC Resolution 1591 via the Embargo Act.
Updates reflect...
What You Need To Do
Immediate screening
No dealings
Controls update
Licensing check
Key Dates
5 February 2026- UK adds six individuals to Sudan sanctions list (e.g., SUD0026 to SUD0031), informing Swiss alignment.
18 February 2026- Switzerland publicly notes addition of seven individuals to Sudan list via ACAMS report.
19 February 2026- WBF amends Annex 2 of SR 946.231.18, effective immediately for compliance (publication date).DEADLINE
12 March 2026- UN Panel of Experts interim report due on Sudan sanctions implementation.DEADLINE
Urgency: High - Immediate asset freeze obligations apply from publication (19 February 2026), with FINMA's enforcement powers (coercive measures under administrative law) risking fines, reputational damage, or license revocation for non-compliance. This escalates amid ongoing Sudan conflict, UN extensions, and multi-jurisdictional alignment, heightening cross-border transaction risks.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen der Verordnung vom 4. März 2022 über Massnahmen im Zusammenhang mit der Situation in der Ukraine (SR 946.231.176.72) publiziert.
AI Analysis
On January 29, 2026, Switzerland's State Secretariat for Economic Affairs (SECO) reduced the price cap on Russian crude oil from USD 47.6 to USD 44.1 per barrel, effective February 1, 2026. This adjustment tightens existing sanctions enforcement and requires Swiss financial intermediaries to immediately implement updated compliance controls and reporting obligations under the Ukraine Sanctions Ordinance (SR 946.231.176.72).
What Changed
The primary regulatory change is a downward adjustment of the Russian crude oil price cap:
Previous cap: USD 47.6 per barrel
New cap: USD 44.1 per barrel
Effective date: February 1, 2026
This modification targets Russia's shadow fleet and circumvention mechanisms. As context, Switzerland previously expanded its sanctions framework on December 12, 2025, subjecting 116 vessels—primarily tankers in Russia's shadow fleet—to purchase, sale, and service prohibitions specifically to prevent evasion of oil price caps through risky transportation practices.
What You Need To Do
*Implement price cap enforcement
*Asset freezing
*Reporting obligations
*Enhanced due diligence
*Suspicious activity reporting
Key Dates
January 29, 2026– SECO publishes amended Annex 28 of the Sanctions Ordinance
February 1, 2026– New oil price cap (USD 44.1) becomes effective and binding
Immediate– Financial intermediaries must implement updated prohibitions and screening proceduresDEADLINE
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung vom 16. Dezember 2022 über Massnahmen betreffend Haiti (SR 946.231.139.4) publiziert.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen des Anhangs 1 der Verordnung vom 28. März 2018 über Massnahmen gegenüber Venezuela (SR 946.231.178.5) publiziert.
AI Analysis
On January 13, 2026, Switzerland's State Secretariat for Economic Affairs (SECO) updated Annex 1 of the Ordinance on Measures against Venezuela (SR 946.231.178.5), reflecting changes to the list of designated persons and entities subject to Swiss asset freezing measures. This update is critical for Swiss financial institutions and regulated entities as it directly impacts sanctions compliance obligations and requires immediate verification of client and counterparty lists against the revised designations.
What Changed
The regulatory update modifies the designated persons list under Switzerland's unilateral freezing measures against Venezuela. While the search results reference a separate FINMA ordinance (RS 196.127.85) adopted on January 5, 2026, which froze assets of 37 persons in the context of Venezuela, the January 13 update to SR 946.231.178.5 represents an amendment to Switzerland's broader sanctions ordinance framework.
What You Need To Do
*Immediate Screening
*Asset Identification
*Freeze Implementation
*Notification
*Transaction Review
Key Dates
January 5, 2026- FINMA ordinance on asset freezing (RS 196.127.85) enters into force at 11 a.m., freezing assets of 37 designated persons
January 13, 2026- SECO publishes updated Annex 1 to SR 946.231.178.5 (the update referenced in your query)
Immediate- Compliance obligations commence upon publication; no grace period for implementationDEADLINE
Der Bundesrat hat am 12. Dezember 2025 beschlossen, die Iran-Sanktionen dem Stand von vor dem Abschluss des Wiener Abkommens über das iranische Atomprogramm anzupassen. Dazu hat er die Verordnung über Massnahmen gegenüber der Islamischen Republik Iran einer Totalrevision unterzogen. Die neue Verordnung (SR 946.231.143.6) trat am 12. Dezember 2025 in Kraft.
AI Analysis
Switzerland has completely revised its Iran sanctions regulations effective December 12, 2025, restoring sanctions to pre-2015 levels following the automatic reinstatement of UN Security Council resolutions on September 28, 2025. This comprehensive overhaul requires Swiss financial institutions and businesses to immediately implement expanded asset freezes, trade restrictions, and sectoral prohibitions affecting Iran-related transactions and designated persons.
What Changed
The total revision introduces several critical regulatory shifts:
*Scope Expansion**: The revised ordinance restores seven previously suspended UN Security Council resolutions (1696, 1737, 1747, 1803, 1835, 1929, and 2224) and aligns Swiss sanctions with EU measures reactivated on September 29, 2025.
*Sectoral Restrictions**: New measures in the raw materials sector have been introduced, complementing existing prohibitions on:
Sale or supply of key energy sector equipment
Gold, precious metals, and diamonds transactions
Specific maritime equipment
Designated software exports
Iranian...
What You Need To Do
*Immediate (Completed by December 12, 2025)
related transactions and accounts for compliance with expanded prohibitions
*Short-term (By January 1, 2026)
September 30, 2025 contracts under legacy exemption provisions
related transactions
Key Dates
September 28, 2025- UN Security Council resolutions automatically reinstated (snapback mechanism triggered)
September 29, 2025- EU reactivated suspended sanctions on Iran's proliferation activities
October 20, 2025- Swiss State Secretariat for Economic Affairs (SECO) updated SESAM sanctions database with reinstated listings
October 21, 2025- Updated sanctions list effective (23:00 UTC)
December 12, 2025- Complete revision of Iran sanctions ordinance (SR 946.231.143.6) entered into force (23:00 UTC)
Der Bundesrat hat die Sanktionslisten betreffend Russland und Belarus am 12. Dezember 2025 ausgeweitet. Die Schweiz übernimmt damit diverse Änderungen, welche die EU im Rahmen ihres 19. Sanktionspakets beschlossen hat.
AI Analysis
The Swiss Federal Council expanded sanctions lists against Russia and Belarus on December 12, 2025, adopting changes from the EU's 19th sanctions package to align Swiss measures with EU restrictions. This matters for Swiss financial institutions as it imposes immediate asset freezes, transaction bans, and reporting obligations on newly listed entities, strengthening efforts to counter Russia's military-industrial complex and shadow oil fleet while preventing sanctions evasion.
What Changed
Asset freezes and prohibitions: 22 natural persons and 42 companies/organizations added to asset freeze and prohibition on making funds/assets available lists.
Shipping restrictions: 116 new vessels (primarily Russian shadow fleet tankers evading oil price caps) subjected to comprehensive purchase, sale, and service bans.
Export controls: 45 new companies (including in third countries) under stricter export controls to block deliveries of critical goods to Russia's military-industrial sector.
Financial transaction bans: Five Russian banks and four branches of Russian banks in third countries...
What You Need To Do
Immediate screening
Asset freezing
Transaction halts
Ongoing monitoring
Key Dates
13 December 2025- Measures enter into force; immediate implementation required.DEADLINE
29 October 2025- Prior expansion decision (related 18th EU package adoption).
30 October 2025- Entry into force of October measures (export restrictions, RDIF transaction bans).
31 December 2025- Extension of certain derogations (e.g., Russia investment withdrawals).
Compliance Impact
Urgency: Critical - Effective immediately (13 Dec 2025), with no grace period for asset freezes/transaction bans, exposing non-compliant firms to severe penalties amid FINMA's active enforcement on sanctions (type: enforcement). This escalates existing Russia/Belarus regimes, targeting evasion vectors like shadow fleets and third-country facilitators, demanding urgent system updates given the volume of new listings (225+ entities/vessels).
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung des Anhangs der Verordnung vom 7. August 1990 über Wirtschaftsmassnahmen gegenüber der Republik Irak (SR 946.206) publiziert.
AI Analysis
This FINMA publication announces a SECO update to the annex of the Ordinance on Economic Measures against the Republic of Iraq (SR 946.206), reflecting UN Sanctions Committee amendments to the list of sanctioned individuals, companies, and organizations made on December 9, 2025. It matters because these changes are directly applicable in Switzerland, requiring financial intermediaries to immediately block affected assets and report business relationships to SECO to ensure compliance with UN sanctions. Failure to act risks enforcement by FINMA under its supervisory mandate.
What Changed
The UN Sanctions Committee modified the sanctions list targeting persons, companies, and organizations related to Iraq on December 9, 2025; this amendment was published by SECO on its website and integrated into the SESAM sanctions database on December 10, 2025.
Switzerland automatically applies UN sanctions lists without delay per the Federal Council's Ordinance of March 4, 2016, making the update immediately binding.
Financial intermediaries must implement prohibitions, freeze assets of newly listed or adjusted entities, and notify SECO of any impacted business relationships, consistent...
What You Need To Do
Screen against SESAM database
Asset freeze
Report to SECO
Internal review
Document compliance
Key Dates
December 9, 2025- UN Sanctions Committee decision amending the Iraq sanctions list.
December 10, 2025- SECO publishes update on its website and updates SESAM database; changes enter into force immediately in Switzerland.
Immediate (as of December 10, 2025)- Financial intermediaries must block assets and report to SECO without delay, per automatic application of UN sanctions.DEADLINE
Compliance Impact
Urgency: High - Automatic and immediate effect heightens breach risk, with FINMA enforcement powers including fines, reputational damage, or license revocation for non-compliance. It matters due to Switzerland's direct implementation of UN sanctions, amplifying AML/financial crime exposure amid ongoing global sanctions volatility (e.g., Iraq-related terrorism financing risks).
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung (WBF) hat den Anhang 2 der Verordnung vom 25. Mai 2005 über Massnahmen gegenüber Sudan (SR 946.231.18) geändert.
AI Analysis
On December 9, 2025, Switzerland's State Secretariat for Economic Affairs (SECO) updated Annex 2 of the Sudan Sanctions Ordinance (SR 946.231.18), requiring Swiss financial intermediaries to implement changes to their sanctions screening and compliance procedures. This update reflects ongoing international coordination on Sudan sanctions enforcement and requires immediate implementation by all Swiss-regulated financial institutions.
What Changed
The regulatory update modified Annex 2 of the Sudan Sanctions Ordinance effective December 9, 2025 at 23:00 UTC. While the search results do not provide the specific entities added or removed from the sanctions list, the update was coordinated through FINMA's SESAM (SECO Sanctions Management) database, which serves as Switzerland's authoritative sanctions database for financial intermediaries.
The timing of this update aligns with broader international sanctions activity on Sudan.
What You Need To Do
*Sanctions List Update
*System Screening
*Transaction Review
*Blocked Assets
*Staff Training
Key Dates
December 9, 2025, 23:00 UTC- Effective date of the urgent amendment to Annex 2 of SR 946.231.18; SECO updated the SESAM database on this date
Immediate- Financial intermediaries required to implement changes according to SR 946.231.18 regulationsDEADLINE
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08) publiziert.
Die Schweiz schliesst sich den weiteren Massnahmen des 18. Sanktionspakets der Europäischen Union (EU) gegenüber Russland sowie den zusätzlich zum 18. Sanktionspaket erlassenen Massnahmen gegenüber Belarus an. Dies hat der Bundesrat am 29. Oktober 2025 beschlossen. Im Fokus stehen Massnahmen im Güter-, Finanz und Energiebereich. Der Bundesrat hat dafür die Verordnung über Massnahmen gegenüber Belarus (SR 946.231.116.9) geändert.
AI Analysis
Switzerland has aligned with additional EU measures from the 18th sanctions package against Russia and specific Belarus measures, amending the Ordinance on Measures against Belarus (SR 946.231.116.9) to focus on goods, financial, and energy sectors. This strengthens the sanctions regime against Belarus to mirror Russia's more closely, aiming to enhance effectiveness and prevent circumvention. Compliance teams must prioritize asset freezes, transaction prohibitions, and reporting to avoid enforcement risks from FINMA and SECO.
What Changed
Alignment with EU's 18th sanctions package (adopted 18 July 2025) and additional Belarus-specific measures, targeting Belarus's involvement in Russia's war against Ukraine.
Amendments to SR 946.231.116.9, harmonizing Belarus sanctions with Russia's regime, particularly in goods (e.g., export restrictions on chemicals, metals, plastics for military/tech strengthening), financial services (e.g., transaction bans on additional banks), and energy sectors.
Requirements for financial intermediaries to implement prohibitions, freeze assets of sanctioned persons, and report affected business...
What You Need To Do
Immediately screen client portfolios, transactions, and assets against updated SECO sanctions lists for Belarus (and cross-reference Russia lists)
Freeze assets of newly sanctioned persons/entities and prohibit dealings (e
Report all affected business relationships to SECO promptly; conduct parallel GwG AML checks and file SARs if suspicions persist
Update compliance systems, transaction monitoring rules, and staff training for goods/financial/energy sanctions; cease any prohibited services (e
Review third-party exposures (e
Key Dates
18 July 2025- EU adopts 18th sanctions package against Russia and additional Belarus measures.
29 October 2025- Swiss Federal Council decides to align and amends SR 946.231.116.9.
30 October 2025- New provisions enter into force.
13 December 2025- Related expansion of Russia/Belarus lists (22 persons, 42 entities, 116 ships, 45 trade firms) takes effect, relevant for harmonization context.
Compliance Impact
Urgency: High - Effective 30 October 2025, these changes demand immediate portfolio screening and reporting, with non-compliance risking FINMA enforcement, asset seizure, or criminal penalties under sanctions laws. Matters due to rapid alignment with evolving EU packages, increasing circumvention risks via Belarus, and heightened FINMA scrutiny on financial intermediaries amid ongoing Russia/Ukraine conflict.
Die Schweiz schliesst sich den weiteren Massnahmen des 18. Sanktionspakets der Europäischen Union (EU) gegenüber Russland sowie den zusätzlich zum 18. Sanktionspaket erlassenen Massnahmen gegenüber Belarus an. Dies hat der Bundesrat am 29. Oktober 2025 beschlossen. Im Fokus stehen Massnahmen im Güter-, Finanz und Energiebereich. Der Bundesrat hat dafür die Verordnung über Massnahmen im Zusammenhang mit der Situation in der Ukraine (SR 946.231.176.72) geändert.
AI Analysis
On October 29, 2025, the Swiss Federal Council (Bundesrat) adopted comprehensive sanctions measures aligned with the EU's 18th sanctions package against Russia and additional measures against Belarus, effective October 30, 2025. This enforcement action significantly expands financial transaction prohibitions, export restrictions, and asset freezes, requiring Swiss financial intermediaries to immediately implement new compliance obligations across banking, goods trade, and energy sectors.
What Changed
*Financial Sector Restrictions**
The Bundesrat expanded transaction prohibitions on Russian banks substantially:
Extended existing transaction bans from 23 Russian banks to cover all specialized payment messaging services, converting these to complete transaction prohibitions
Introduced new transaction prohibitions for 22 additional Russian banks
Prohibited all transactions with the Russian Direct Investment Fund (RDIF), its sub-funds, and affiliated enterprises, tightening restrictions previously limited to RDIF-financed projects
*Export Control Expansion**
Export restrictions were...
What You Need To Do
*Implement transaction prohibitions on all 45+ Russian banks now subject to complete bans (previously 23 with partial restrictions)
*Freeze assets of all sanctioned persons and entities immediately upon notice
*Report affected business relationships to SECO—this reporting obligation does not relieve firms from conducting additional due diligence when suspicious indicators exist
*Screen counterparties against updated sanctions lists, particularly the RDIF and its sub-funds
*Cease all transactions with newly prohibited entities, including payment system operators and financial institutions in third countries (Belarus, Kazakhstan) supporting Russian war economy
Key Dates
October 29, 2025- Federal Council decision adopted
October 30, 2025- Measures effective date
Ongoing- Financial intermediaries must implement prohibitions, freeze assets of sanctioned persons, and report affected business relationships to SECO (State Secretariat for Economic Affairs)DEADLINE
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08) publiziert.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung vom 16. Dezember 2022 über Massnahmen betreffend Haiti publiziert.
AI Analysis
The Swiss Federal Department of Economic Affairs, Education and Research (WBF, under which SECO operates) has published an update to the Annex of the Ordinance of 16 December 2022 on measures concerning Haiti, reflecting UN Security Council amendments to the sanctions list. This matters for Swiss financial institutions as it triggers immediate asset freeze checks and reporting obligations to ensure compliance with Switzerland's implementation of UN sanctions via FINMA and SECO oversight, avoiding enforcement risks amid Haiti's ongoing instability. The update aligns with global renewals of Haiti sanctions, emphasizing asset freezes on newly designated individuals and entities involved in destabilizing activities.
What Changed
Amendment to the Annex of the Verordnung vom 16. Dezember 2022 über Massnahmen betreffend Haiti, incorporating UN Security Council updates to the sanctions list, likely adding individuals, companies, or organizations subject to asset freezes, travel bans, and arms embargo expansions.
Reflects broader UN measures, including renewal of travel bans, asset freezes, and arms embargoes; expansion of arms embargo scope to military goods, technology, technical assistance, financial services, and brokering related to destabilizing activities or illicit natural resource exploitation.
Switzerland...
What You Need To Do
Screening and Freezing
Ongoing Monitoring
Licensing Checks
Documentation
Key Dates
Immediate (publication date: 21 October 2025)- Swiss firms must check accounts, freeze assets or economic resources of newly listed persons without prior notice, and report to SECO/FINMA without delay.DEADLINE
18 October 2024- UN Security Council Resolution 2752 adopted, expanding arms embargo (basis for Swiss/UK updates).
17-20 October 2025- UNSC renews regime for one year, adds 2 entries to sanctions list (UK/Jersey notices align with Swiss publication).
23 July 2025- UK Haiti Sanctions Amendment Regulations enter force, reflecting similar UN changes.
20 March 2025- Canadian amendments add 3 individuals (related context).
Compliance Impact
Urgency: High - Immediate asset freeze and reporting requirements carry criminal penalties for non-compliance (e.g., aligned with UK fines up to updated monetary levels); failure risks FINMA enforcement, reputational damage, and misalignment with UN obligations amid Haiti's volatile security. Matters due to expanded scope capturing indirect financial facilitation, increasing false positive screening burdens for firms with Haiti exposure.
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08) publiziert.
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08) publiziert.
The Swiss Financial Market Supervisory Authority FINMA today published guidance on the extension of the transitional period for exchange of collateral in certain OTC derivatives transactions. The current transitional period runs until 1 January 2026 and will be extended by a further three years.
AI Analysis
FINMA extended the transitional period for collateral exchange requirements in non-centrally cleared OTC derivatives from January 1, 2026 to January 1, 2029, providing Swiss market participants with three additional years of relief from mandatory collateral posting obligations on certain equity derivatives. This extension aligns Swiss regulation with the EU's indefinite exemption introduced in December 2024, preventing competitive disadvantages for Swiss derivatives traders while a permanent regulatory framework is developed.
What Changed
The primary regulatory change is the extension of the transitional period under Article 131 paragraph 5bis of the Financial Market Infrastructure Ordinance (FinMIO). Specifically:
Previous deadline: January 1, 2026
New deadline: January 1, 2029
Scope: Applies to non-centrally cleared OTC derivatives transactions involving equity options, index options, and equity basket derivatives that are not cleared through a FINMA-authorized or recognized central counterparty
Regulatory basis: FINMA Guidance 04/2025, issued October 9, 2025, under authority granted by Article 131 paragraph 6 FinMIO
The...
What You Need To Do
*Acknowledge the extended timeline
*Maintain risk management controls
*Monitor FinMIA revision
*Document compliance rationale
*Assess competitive positioning
Key Dates
October 9, 2025- FINMA Guidance 04/2025 published and takes effect immediately
January 1, 2029- New expiration date for the transitional period; collateral exchange obligations become mandatory unless further extended or a permanent framework is adopted
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen des Anhangs 8 der Verordnung vom 4. März 2022 über Massnahmen im Zusammenhang mit der Situation in der Ukraine (SR 946.231.176.72) publiziert.
AI Analysis
The publication announces updates by the Swiss Federal Department for Economic Affairs, Education and Research (WBF) to Annex 8 of the Ordinance on Measures in Connection with the Situation in Ukraine (SR 946.231.176.72), aligning Swiss sanctions against Russia with ongoing international restrictions. This matters for Swiss financial intermediaries as it imposes immediate obligations to block assets, report relationships, and conduct AML checks, amid escalating sanctions that heighten compliance risks and enforcement scrutiny from FINMA.
What Changed
Amendments to Annexes 8, 14, 15b, and 33 of the Ordinance, though specific details on new listings or prohibitions are not detailed in the announcement.
Continuation of standard requirements: Implement prohibitions, freeze assets of sanctioned persons, and report affected business relationships to SECO (State Secretariat for Economic Affairs).
These updates follow a pattern of prior changes, such as expanded export bans on dual-use goods (e.g., chrome ore, chemicals), transaction bans on additional Russian banks, and prohibitions on dealings with the Russian Direct Investment Fund (RDIF).
What You Need To Do
Screen and freeze assets
Report to SECO
Conduct AML due diligence
Review transactions
Document compliance
Compliance Impact
Urgency: Critical – Effective immediately at 23:00 on January 13, 2026, with no grace period, this demands urgent system updates, screenings, and reporting to avoid FINMA enforcement (e.g., fines, licenses at risk). It amplifies AML / Financial Crime risks in a high-scrutiny environment, as FINMA's Risikomonitor 2025 highlights Russia sanctions as a top concern amid iterative updates.
The Swiss Financial Market Supervisory Authority FINMA is today publishing guidance on the disclosure of cryptobased assets in the annual financial statements of banks and securities firms. It is thereby addressing ambiguities that have arisen since the DLT Act entered into force. FINMA emphasises that the existing duties of disclosure must continue to be complied with and provides clarifications.
The 2024 insurance market report, which was published today by FINMA, offers an overview of the Swiss insurance market last year. Swiss insurance companies achieved aggregate annual profits of CHF 10.4 billion in 2024, which represents a 24% decrease over the previous year. While life and non-life insurers were able to increase their profits, reinsurers recorded a significant decline.
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08) publiziert.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs 7 der Verordnung vom 11. November 2015 über Massnahmen gegenüber der Islamischen Republik Iran (SR 946.231.143.6) publiziert.
AI Analysis
On August 18, 2025, the Swiss State Secretariat for Economic Affairs (WBF) published an updated sanctions notification regarding Iran, specifically modifying Annex 7 of the Ordinance on Measures against the Islamic Republic of Iran (SR 946.231.143.6). This update is critical for Swiss financial institutions and businesses because it reflects the evolving sanctions landscape following the automatic reinstatement of UN Security Council resolutions on Iran's nuclear program in September 2025.
What Changed
The August 2025 notification updated the list of designated persons, entities, and organizations subject to Swiss sanctions against Iran. While the search results do not provide the specific details of individual entries added or removed from Annex 7, this type of notification typically reflects changes to the UN Security Council's consolidated sanctions list that Switzerland is obligated to implement under its Embargo Act (EmbG).
The broader context shows that Switzerland was preparing for significant sanctions escalation: on December 12, 2025, the Swiss Federal Council conducted a total...
What You Need To Do
*Immediate compliance obligations
*Sanctions List Screening
*Transaction Review
*Account Monitoring
*Policy Updates
Key Dates
August 18, 2025- WBF published updated sanctions notification for Iran (Annex 7 modifications)
August 28, 2025- Germany, France, and UK triggered UN snapback mechanism
September 15, 2025- Harmonization of sanctions ordinances entered into force (affecting financial sanctions procedures across multiple jurisdictions including Iran)
September 27, 2025- UN nuclear-related sanctions against Iran automatically reinstated
September 28, 2025- EU reactivated suspended sanctions related to Iran's proliferation activities
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung des Anhangs der Verordnung vom 7. August 1990 über Wirtschaftsmassnahmen gegenüber der Republik Irak (SR 946.206) publiziert.
AI Analysis
The Swiss State Secretariat for Economic Affairs (SECO) published an updated sanctions notification on August 13, 2025, reflecting modifications to the UN sanctions list targeting Iraq under the Ordinance of August 7, 1990 (SR 946.206). This update is automatically applicable in Switzerland and requires immediate compliance by all financial institutions and regulated entities, as Switzerland implements UN Security Council sanctions lists without delay through its automatic application framework.
What Changed
The UN Sanctions Committee modified the list of sanctioned individuals, companies, and organizations subject to Iraq-related sanctions on August 5, 2025. The specific modifications to the sanctions list were incorporated into Switzerland's SESAM database (SECO Sanctions Management), which serves as the authoritative sanctions reference for Swiss compliance purposes. Under Switzerland's automatic application ordinance adopted by the Federal Council on March 4, 2016, amendments to UN Security Council sanctions lists enter into force in Switzerland without delay.
What You Need To Do
*Update screening systems immediately - Integrate the August 5, 2025 modifications into transaction monitoring and customer due diligence systems
*Review existing customer relationships - Screen all current customers, counterparties, and beneficial owners against the updated SESAM database
*Audit transaction history - Identify any transactions processed between August 5-13, 2025 that may have involved newly sanctioned parties
*Document compliance procedures - Maintain records demonstrating implementation of updated sanctions screening
*Train compliance staff - Ensure all relevant personnel understand the updated sanctions list and screening requirements
Key Dates
August 5, 2025- UN Sanctions Committee decision modifying the Iraq sanctions list
August 13, 2025- SECO published the updated sanctions notification and SESAM database modifications
Immediate- Effective date in Switzerland (automatic application upon UN modification)
Das Departement für Wirtschaft, Bildung und Forschung (WBF) hat die Erweiterung der Sanktionslisten betreffend Russland publiziert. Die Schweiz hat damit diverse Änderungen übernommen, welche die EU im Rahmen ihres 18. Sanktionspakets beschlossen hatte.
AI Analysis
This FINMA publication announces Switzerland's adoption of the EU's 18th sanctions package against Russia, expanding the sanctions lists with new designations and restrictions via the Swiss State Secretariat for Economic Affairs (SECO/WBF). It matters because Swiss financial institutions must immediately screen and freeze assets of newly listed parties, aligning with heightened FINMA enforcement on Russia sanctions risks amid ongoing geopolitical tensions. Compliance teams face elevated legal, reputational, and secondary sanctions exposure from US/EU measures.
What Changed
The core update involves Switzerland incorporating EU Council decisions from the 18th sanctions package, which typically include:
Additions to asset freeze lists targeting Russian individuals, entities, and sectors like energy, finance, and dual-use goods.
Expanded prohibitions on making funds or economic resources available to designated parties.
Alignment with EU sectoral restrictions on Russia's financial messaging services (e.g., SPFS), oil trade, and shadow fleet activities, now binding in Switzerland via ordinances updated by WBF/SECO.
What You Need To Do
Screen sanctions lists immediately
Enhance customer due diligence (CDD)
Report to FINMA/SECO
Update policies
Train staff
Key Dates
Immediate upon publication (August 13, 2025)- Swiss sanctions lists updated; asset freezes and prohibitions take effect instantly for newly designated parties.
15 December 2025- Noted FINMA reference for ongoing list updates and independent freezing measures.
31 July 2026- EU sectoral sanctions against Russia renewed until this date (adopted December 2025), influencing Swiss alignment.
Compliance Impact
Urgency: High - This directly expands enforceable prohibitions, with FINMA's targeted on-site reviews and "very high" Russia sanctions risk rating amplifying enforcement (https://www.finma.ch/en/~/media/finma/dokumente/dokumentencenter/myfinma/finma-publikationen/risikomonitor/20251117-finma-risikomonitor-2025.pdf?sc_lang=en). Non-compliance risks fines, reputational damage, and secondary US sanctions, especially post-EU renewals through 2026.
On July 31, 2025, Switzerland's State Secretariat for Economic Affairs (SECO) amended the annex to the Syria Asset Freezing Ordinance (SR 196.127.27), originally enacted March 7, 2025, to update the list of designated individuals subject to comprehensive asset freezes. This amendment reflects Switzerland's ongoing implementation of targeted financial sanctions against politically exposed persons connected to the former Assad regime, requiring immediate compliance from all financial intermediaries and asset holders operating in Swiss jurisdiction.
What Changed
The July 31, 2025 amendment modified the annex (list of designated persons) to the Syria Asset Freezing Ordinance without altering the substantive freezing requirements themselves. The original ordinance, enacted March 7, 2025, froze all assets of 17 designated individuals; the July amendment adjusted this list, though the specific names added or removed are not detailed in the available regulatory notices.
The amendment operates under the Federal Act on the Freezing and Restitution of Illicit Assets held by Foreign Politically Exposed Persons (FIAA; SR 196.1), which provides the legal...
What You Need To Do
*Immediate compliance steps for financial institutions:
*Update sanctions screening systems to reflect the amended annex list as of July 31, 2025
*Freeze all assets of newly designated individuals without delay, including bank accounts, securities, real estate, and other property of any kind
*File mandatory reports with the Money Laundering Reporting Office (MROS) for all frozen assets under Article 3 of the FIAA
*Conduct enhanced due diligence on existing client relationships to identify any connections to designated persons or their family members, associates, or controlled entities
Key Dates
March 7, 2025, 6:00 PM UTC– Original Syria Asset Freezing Ordinance entered into force
July 31, 2025, 6:00 PM UTC– Amendment to annex (list of designated persons) entered into force
Ongoing– Immediate freezing obligation upon designation; no grace period applies
Four-year validity– The ordinance remains valid for four years from March 7, 2025, unless extended or modified
On 3 July 2025, the Swiss Financial Market Supervisory Authority FINMA launched the consultations on the new Ordinances on the Risk Diversification of Banks and Securities Firms and on the Liquidity of Banks and Securities Firms. The consultations will go on until 29 September 2025.
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08) publiziert.