Switzerland adopted the European Union’s 18th sanctions package against Russia, implementing new restrictions that came into effect on 12 August, according to the country’s government press service.

The Federal Department of Economic Affairs, Education and Research announced that the measures respond to Russia’s full-scale war against Ukraine, originally approved by the EU on 18 July.

Under the new sanctions, Switzerland added 14 individuals and 41 companies to its blacklists. The targeted entities include “Russian and international firms that manage the ‘shadow fleet’ to circumvent price restrictions on Russian oil, trade it, or supply equipment for the Russian military-industrial complex, including companies from third countries,” the department reported.

The sanctions extend beyond Russian territory, affecting 105 vessels from third countries that are now prohibited from purchase, sale, and servicing. These are “mainly tankers transporting Russian oil or military goods,” according to the announcement.

In a significant economic measure, Switzerland lowered the price ceiling on Russian oil to $47.6 per barrel, with the new limit taking effect from 3 September.

The country also imposed stricter export controls on 26 companies, including those outside Russia, “due to attempts to circumvent the ban on drone supplies,” the government reported.

Beyond Russia-focused measures, Switzerland implemented additional EU sanctions against Moldova and Belarus. Regarding Moldova, “seven individuals and three companies involved in Russia’s attempts to influence the EU membership referendum and the 2024 presidential elections” faced restrictions. For Belarus, limitations were imposed on “eight defense industry companies.”

The sanctions package reflects Switzerland’s continued alignment with EU policy despite its traditional neutrality, as the country maintains its response to what it characterizes as Russia’s aggressive actions in Ukraine.