On 20 December 2021, taking effect at 6pm CET, Switzerland amended its lists of sanctioned parties (Annexes 7, parties subject to financial sanctions, and 8, parties subject to financial restrictions), namely by adding 17 individuals and 11 entities and organizations to Annex 7. These are the same individuals and entities as listed under EU sanctions on 2 December. Among the entities added are Belavia Belarusian Airlines, State Production Association Belorusneft and Open Joint Stock Company Belshina.

Join our webinar on Thursday, 20 January 2022 for an engaging discussion on trade compliance, customs laws and risks of sanctions within the cannabis industry. Our panel of legal experts in international trade compliance will discuss such topics as: what the cannabis industry can do to be more trade compliant, how to navigate the multi-jurisdictional variances in customs laws, how to reduce the risks associated with the import and export of cannabis and how to identify and mitigate sanctions risks.

Join us for an international conference at which Baker McKenzie experts will share the most recent developments in the areas of sanctions, export controls, anti-corruption legislation, customs and Russian trade protectionism. The Russia Trade Days event will take place from 7 – 10 December 2021.

The Swiss Parliament has adopted new provisions in the Swiss Cartel Act regarding the business conduct of companies with relative market power, the freedom of powerful companies to set prices, and geo-blocking practices. The revised Swiss law will enter into force on 1 January 2022.

On August 9, 2021, the United States, the United Kingdom, and Canada significantly escalated sanctions against Belarus in a multilateral effort to put pressure on the current Lukashenko regime. These sanctions were announced on the first anniversary of the fraudulent elections held in Belarus on August 9, 2020 and follow a series of previous measures against Belarus, including most recently the coordinated measures between the UK, US, Canada and the EU in June (see our previous blog post here) and the sectoral sanctions also introduced by the EU in June (see our previous blog post here).

On 7 July 2021, the Swiss government amended the list of designated parties in its Ordinance of Measures against Belarus, targeting an additional 78 individuals and 7 entities. These designated parties are subject to asset freezes, travel bans and a prohibition on funds and economic resources being made available to them or parties owned or controlled by them.

The Medical Device Regulation (“MDR”) enters into force in the EU. As from that date, the Mutual Recognition Agreement (“MRA”) between Switzerland and the EU no longer applies to trade in medical devices. To avoid a ban on imports, the Swiss Federal Government on 19 May 2021 adopted contingency rules providing for a grace period and clarifying the rules that medical devices need to meet for continued import into Switzerland.

On March 31, 2021, the Swiss government amended the list of individuals in Annex 1 to the Ordinance on Measures against Myanmar/Burma. Eleven individuals responsible for the military coup staged in Myanmar on February 1, 2021, and the subsequent military and police repression against peaceful demonstrators, have been newly included. Ten…

On 11 December, the Swiss Federal Council extended sanctions against Belarus. Financial sanctions and travel bans were imposed on 15 individuals, including President Alexander Lukashenko. The new measures entered into force at 6pm on 11 December. The sanctions are in line with the decisions taken by the EU on 6…

On 29 November 2020, Swiss voters opted for the introduction of EU-style ESG reporting and due diligence requirements and against the so-called Responsible Business Initiative. While the initiative would have added teeth to the civil liability regime for the violation of international human rights and environmental standards across the supply chain, the substantive requirements regarding ESG reporting and due diligence across the extended enterprise are not any lighter under the chosen approach. We expect that affected companies will have to apply the new requirements in financial year 2023.