Swissinfo on 23rd October reported that Swiss federal authorities fail to correctly monitor the application of economic sanctions, an influential Senate committee has warned.  An evaluation found that the Federal Council had a clear policy regarding economic sanctions coupled with appropriate legislation, but the implementation of sanctions was “deficient”. UN sanctions apply in Switzerland, but EU sanctions are applied by the Swiss government on a case-by-case basis, while weighing up national interests.  T committee calls for better supervision of sanctions by the State Secretariat for Economic Affairs (SECO), and it claims SECO only monitors their implementation on an ad-hoc basis and does not make full use of the instruments at its disposal.  It said that applying financial sanctions was problematic owing to their complexity, and controls were almost non-existent in this area, as for luxury products; and while trade sanctions are widely respected by businesses, imports and exports of sanctioned goods continue.–deficient-/44493350

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: