Newsletter 282 from March 3, 2014 International Sanction
New Ordinance of 26 February 2014 on Sanctions against Certain Persons from Ukraine
On 26 February 2014, based on Article 184 paragraph 3 of the Federal Constitution of the Swiss Confederation, the Federal Council adopted a new Ordinance on Sanctions against Certain Persons from Ukraine. The Ordinance came into force at 12:00 hours on 28 February 2014. Article 1 of the Ordinance provides for a blocking of funds and financial resources. The 20 persons affected are listed in the Appendix. The Ordinance is available for consultation in the Official Compendium of Federal Law.
In accordance with the provisions of the Ordinance, financial intermediaries are requested to report relevant business relationships to the Directorate of Public International Law (DPIL) of the Federal Department of Foreign Affairs (FDFA) and block the associated assets.
Please note that only the German version is legally binding.