Aktualisierte Sanktionsmeldung: Republik Irak
Executive Summary
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
- *Monitor ongoing transactions - Implement continuous screening for new transactions against the updated list
Key Dates
Compliance Impact
Urgency: CRITICAL
Who is Affected
Summary
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.