Switzerland imposes sanctions on Russia analogous to EU's 4th sanctions package - statement

BERLIN. March 18 (Interfax) - Following an analogous step by the European Union, Switzerland is imposing sanctions on Russia, which will take effect within the next few days, the Swiss Federal Council said in a statement.

"On 18 March, the Federal Council took the decision to adopt the new EU sanctions against Russia," it said.

"The corresponding measures will come into force within the next few days," it said.

Hence, inter alia, Switzerland is imposing a ban on exports of luxury goods to Russia; as the government says, these sanctions would affect only a small portion of Switzerland's global exports of such goods.

"The ban on the export of luxury goods contained in the new sanctions affects only a small portion of Switzerland's global exports of such goods. However, specific companies could be seriously affected," "the statement says.

Earlier this week, the EU adopted a fourth package of restrictions on Russia, which included a ban on exports of luxury goods to Russia. The ban applies to cars valued at over 50,000 euros and motorcycles valued at over 5,000 euros, accessories and spare parts for them, musical instruments valued at over 1,500 euros, works of art and antiques, equipment for skiing, golf, diving, water and other sports, accessories and equipment for billiard, electronics, videogames, silversmiths' wares, porcelain, carpets, certain types of clothes, etc.

The EU sanctions also prohibit imports of certain steel products from Russia and the provision of any credit rating services by EU credit rating agencies to Russia and its entities.

The new sanctions also prohibit all transactions with certain state-owned enterprises and new investments in the Russian energy sector, with an exception for the civilian nuclear power industry and the transportation of energy to the EU. The sanctions list includes nine companies linked to Russia's defense industry.