Updated Swiss FAQs On The Ukraine Sanctions

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On May 16, 2024, and June 13, 2024, SECO published revised versions of the FAQs on the Ordinance on Measures in Connection with the Situation in Ukraine ("Ordinance").

SwitzerlandInternational Law

Flurin Kohler

SECO recently published revised versions of the FAQs on the sanctions provisions in connection with the situation in Ukraine.

On May 16, 2024, and June 13, 2024, SECO published revised versions of the FAQs on the Ordinance on Measures in Connection with the Situation in Ukraine ("Ordinance"). This concerns, among other things, explanations on the concept of "ownership" and "control" of companies and organisations as well as on ring-fencing measures and crypto-based assets.

The term "ownership"

In connection with the freezing of funds and economic resources of sanctioned persons and companies or companies that are owned or controlled by sanctioned persons or companies, the Ordinance mentions the terms "ownership" and "control" in Art. 15. The FAQs now contain information on how ownership and control are understood.

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Updated Swiss FAQs On The Ukraine Sanctions

The term "ownership"

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