Switzerland implements and enforces internationally imposed sanctions against states, individuals and legal entities and uses the Embargo Act (EmbAct) as its legal basis. Precise coercive measures are specified in separate sanction ordinances that are adopted by the Federal Council in conjunction with this Act.
Implementation by SECO
Sanction ordinances are implemented by the State Secretariat for Economic Affairs SECO. The names of the individuals, groups and companies affected are listed in annexes to these ordinances which are updated continuously.
Independent freezing measures
The Federal Council also has the power to introduce national freezing measures to safeguard Switzerland’s interests. The Federal Department for Foreign Affairs FDFA (Directorate of International Law) is responsible for implementing the associated ordinances. The annexes to these ordinances are also updated continuously.
Topical information and notification of coercive measures
FINMA publishes financial coercive measures and freezing measures on its website, while MyFINMA notifies financial intermediaries of relevant changes
List of FINMA News covering financial sanctions