Switzerland, although not a member of the European Union, has fully adopted the sanctions packages imposed by the EU against the Russian Federation. SECO (State Secretariat for Economic Affairs) regularly updates the list of applicable restrictions.
The sanctions cover a broad spectrum of sectors: a ban on the export of dual-use goods and advanced technologies; restrictions on the import of Russian petroleum and steel products; a ban on the export of luxury goods; limitations in the financial and insurance services sector; and restrictions on maritime and air transport.
For logistics operators and freight forwarders, the sanctions entail enhanced due diligence obligations. Every shipment to Russia or Belarus, or containing goods of Russian origin, must be carefully checked against the restriction lists.
Franzosini SA has implemented internal compliance procedures that include: systematic screening of all shipments against SECO/EU sanctions lists; verification of the parties involved (shipper, consignee, end-user) against lists of sanctioned persons and entities; and continuous staff training on regulatory updates.