New EU sanctions package against Russia

On the third anniversary of the Russia-Ukraine conflict, the European Union has adopted its 16th sanctions package. This was agreed upon by the EU foreign ministries on 24 February 2025 with the aim of further increasing economic and political pressure on Russia. The package includes: 

1. Tougher measures against the Russian shadow fleet 

The EU had previously banned almost 80 ships from entering ports and prohibited companies from offering services to them. A further 73 ships are now being added to the sanctions list. In addition, the rules have been changed to enable sanctions to be imposed not only on the operators, but also on the owners and captains of these vessels. 

Background: The shadow fleet consists of ships with opaque ownership, which are used to circumvent sanctions. Russia is increasingly relying on ageing tankers from third countries, as its own ships are no longer so easily deployable. In addition to transporting crude oil, there are also fears that these ships could be used for sabotage against underwater infrastructure. 

2. Trade and export restrictions 

Extensive trade restrictions form a central element of the new package. Among other things, the import of aluminium and aluminium alloys from Russia is being significantly restricted. The export of certain products that are important for the Russian arms industry are also prohibited, including: 

• chemical precursors

• chromium 

• certain machine parts 

• devices such as video-game controllers that can be used to control combat drones 

In addition, it was also decided to ban transactions with Russian ports and airports that play a role in circumventing the Western oil price cap. 

3. Tightened sanctions in the financial sector 

The EU has taken further measures in the financial sector to weaken Russia economically. These include: 

• exclusion of a further 13 banks from the SWIFT financial communication system 
• a ban on transactions for three Russian financial institutions 
• prohibition on the provision of services to Russian oil and gas refineries 

4. Extended list of sanctioned persons and organisations 

The EU has also further expanded its list of sanctioned individuals, organisations and entities collaborating with Russia’s military and industrial complex. An additional 48 individuals and 35 companies and organisations have been added and are now subject to asset freezes and EU entry bans. 

5. Sanctions against Russian media 

With the new measures, the EU has suspended the broadcasting licences of eight Russian media companies. This is part of its efforts to curb the spread of propaganda and disinformation from Russia within the EU. 

With this 16th sanctions package, the EU is once again increasing economic and political pressure on Russia. The measures aim to increase the cost of continuing the conflict. The EU remains determined to tighten sanctions if Russia continues its military actions. 

Source and details: You will find a detailed overview of the EU sanctions against Russia on the website of the German Federal Government (News) and the European Council. 

At present, Switzerland has adopted most – but not necessarily all – of the EU’s sanctions. Sanctions are generally adopted only after careful examination. Switzerland reserves the right to adapt certain measures or to refrain from adopting them in order to take into account its own national interests and legal framework. 

It was not until 12 February 2025 that the Federal Council decided to implement further measures from the EU’s 15th package of sanctions against Russia. These measures entered into force on 13 February 2025. 

The Federal Department of Economic Affairs, Education and Research (WBF), which is responsible for sanctions, has now further updated the sanctions lists concerning Russia on the basis of the EU’s 16th package of sanctions against Russia. Switzerland has thus adopted changes decided by the EU due to Russia’s ongoing military actions against Ukraine. These measures entered into force at 10pm on 4 March 2025: 

The Ordinance of 4 March 2022 on Measures Connected with the Situation in Ukraine. (in German)

The new measures: 

• 48 individuals and 35 companies and organisations have been made subject to asset freezing and a prohibition on making assets available. The individuals are also banned from entering and transiting through Switzerland. 
• The number of persons, companies and organisations on the Swiss sanctions list in connection with Russia’s military aggression against Ukraine amounts to more than 2,400 and corresponds to that of the EU. 
• Furthermore, an additional 74 ships from third countries have been made subject to comprehensive service bans. 
• In the trade sector, 53 new entities have also been made subject to stricter export control measures. 
• In addition, three banks have been banned from conducting transactions because they use the Russian alternative to the SWIFT system (SPFS). 
• Finally, a further 13 Russian banks are to be excluded from using specialised messaging services for payment transactions (SWIFT system) with effect from 17 March 2025. 

Various measures are currently being examined so that the Federal Council can consider a possible adoption of the new sanctions. 

Source and details here: SECO

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Editorial 

This blog article reflects the situation as at 5 March 2025. We’d like to point out that the political situation is extremely dynamic and that changes in the law can occur at short notice.