How do international sanctions affect trade from Switzerland?

Switzerland independently applies international sanctions through the Embargo Act (EmbA) and related ordinances, coordinated by SECO. Sanctions may include: export bans on specific goods to sanctioned countries; asset freezes; financial service restrictions; travel bans. Countries under severe sanctions include Russia, Belarus, Iran, North Korea, Syria, Myanmar. For every shipment to sensitive countries, mandatory checks include: whether goods fall under restricted categories (dual-use, luxury goods, specific technologies); whether the recipient, end-user or involved parties are on sanctions lists (SECO, EU, US OFAC lists); whether specific SECO authorisations are needed. EU and US OFAC sanctions can have extraterritorial effect on Swiss operations involving banks, currencies (USD) or supply chains passing through EU/US jurisdictions. Franzosini performs systematic sanctions screening on all shipments.

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