Newsletter 189 from April 5, 2011 International Sanction

New Ordinance on Sanctions against Libya

The Federal Council adopted a new Ordinance on Sanctions against Libya on 30 March 2011. By doing so, Switzerland implements the UN Security Council resolutions on sanctions as well as the further measures imposed by the European Union. The Ordinance came into force on 31 March 2011 and replaces the Ordinance on Sanctions against Certain Persons from Libya, which was adopted on 21 February 2011. The affected persons, companies and organisations are listed in the Appendices. The Ordinance is available for consultation in the Special Publications of the Swiss Confederation.

In accordance with the provisions of the Ordinance on Sanctions against Libya, financial intermediaries are requested to report relevant business relationships to the State Secretariat for Economic Affairs (SECO) and to block the associated assets. Reporting to SECO is only required if the business relationship in question was not already reported to the Directorate of International Law (DIL) of the Federal Department of Foreign Affairs (FDFA).