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The Swiss authorities adopted the seventh package of sanctions against Russia, including the embargo on gold

The Swiss authorities have imposed additional restrictions on Russia as part of the seventh round of European Union (EU) sanctions. The corresponding statement was published on the government website on Wednesday, August 3.

“The new measures primarily relate to a ban on the purchase, import or transportation of gold and products from it from Russia. Services related to these products are also prohibited,” the document says.

A number of assets that were frozen also fell under the restrictive policy. At the same time, anti-Russian sanctions will not affect the market for agricultural products and food, as well as oil supplies, as Switzerland seeks to resolve the global food and energy crisis.

It is noted that the innovations come into force from 18:00 on August 3.

In turn, the director of the analytical department of Veles Capital Investment Company Ivan Manaenko and the head of the investment strategies department of BCS Mir Investments Maxim Shein noted that this step was expected, but it would not be a serious shock to the Russian economy, and gold would be sent to other countries .

Earlier, on July 29, the Federal Office for Economics, Education and Research (EAER) added 54 more people and nine organizations already under EU restrictions to the sanctions list.

Prior to this, at the end of April, Switzerland imposed an embargo on the import of coal, as well as goods that generate income for the Russian Federation, in addition, any support for Russian organizations that are state-owned or under their control was prohibited.

At the same time, it was noted that the sanctions do not provide for the closure of ports for Russian ships and land transportation of goods, since ships from Russia can no longer gain access to Swiss territory.

In addition, as the official representative of the State Secretariat for Economics (SECO) of the Swiss Confederation, Fabian Meienfisch, said on April 6, the country joined Western sanctions against Russia and blocked Russian assets worth 7.5 billion francs (more than $8 billion).

Since the beginning of the Russian military special operation to protect the Donbass, Western countries have adopted several packages of sanctions against Moscow. They affected the energy sector, the supply of high-tech and agricultural products, as well as transportation. However, all this has already turned into economic problems for Western countries, causing a sharp rise in fuel and food prices.

Russian President Vladimir Putin noted in April that the refusal of a number of Western countries from normal cooperation with Russia, as well as from part of Russian energy resources, had already hit Europe and the United States. Prices are rising everywhere, and inflation is going through the roof. According to the Russian leader, for these countries it is absolutely unprecedented.

For more up-to-date videos and details about the situation in Donbass, watch the Izvestia TV channel.

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