What does FINMA's "Aktualisierte Sanktionsmeldung: Russland" change?

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. These mirror EU efforts to close evasion loopholes, such as third-country enablers and crypto circumvention.

Swiss financial institutions Supervised entities with Russia/Ukraine exposure All Firms aligned sanctions, especially with Russian clients or third-country dealings risking secondary sanctions (e.g., US OFAC).

What should firms consider doing?

Enhance customer due diligence (CDD): Review existing Russia/Ukraine portfolios for matches; implement enhanced monitoring for shadow fleet, oil traders, and FIMI-linked entities. Report to FINMA/SECO: Notify of any frozen assets or potential breaches; document compliance efforts to mitigate enforcement risks. Update policies: Integrate EU 18th package into internal sanctions frameworks, including red flags for circumvention (e.g., crypto, third-country banks). Train staff: Conduct urgent refreshers on secondary sanctions risks per FINMA Risk Monitor 2025.

🇨🇭 FINMA Regulatory Notice high

Aktualisierte Sanktionsmeldung: Russland

Published 13 August 2025 | Switzerland

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.

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

Suggested considerations

Enhance customer due diligence (CDD): Review existing Russia/Ukraine portfolios for matches; implement enhanced monitoring for shadow fleet, oil traders, and FIMI-linked entities.
Report to FINMA/SECO: Notify of any frozen assets or potential breaches; document compliance efforts to mitigate enforcement risks.
Update policies: Integrate EU 18th package into internal sanctions frameworks, including red flags for circumvention (e.g., crypto, third-country banks).
Train staff: Conduct urgent refreshers on secondary sanctions risks per FINMA Risk Monitor 2025.

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. These mirror EU efforts to close evasion loopholes,

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 sanct

Who is affected

Swiss financial institutions
Supervised entities with Russia/Ukraine exposure
All Firms
aligned sanctions, especially with Russian clients or third-country dealings risking secondary sanctions (e.g., US OFAC).

2025-sanctions-and-export-controls-update/).
item/monthly-sanctions-update-december-2025/).
publikationen/risikomonitor/20251117-finma-risikomonitor-2025.pdf?sc_lang=en; https
detail/finma-risk-monitor-2025-finma-flags-nine-principal/).
Prior Swiss adoption of EU 17th package (https
EU November 2025 additions for human rights abuses and shadow fleet (https

References

AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.

What the FINMA said

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.

Published by FINMA . Read the full notice at the source for the authoritative text.

Sectors

Banking & Credit Wealth & Private Banking Payments & E-Money

Topics

AML / Financial Crime Reporting & Disclosure

Relevant Firm Types

BankWealth Manager

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