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Iran sanctions partly lifted in Switzerland

This week Switzerland will lift part of their sanctions against Iran. In particular the obligation to report on transports of and trade in Iranian oil is concerned. The obligation to report on trade in petrochemical goods in general was also suspended. Furthermore, measures facilitating the restrictions in the financial sector and in the precious metal business with government authorities are planned.

Only partial lift of Iran sanctions

This shows that Switzerland is also taking the same step as the European Union as far as the Iran sanctions are concerned. The larger part of the sanctions against Iran is still in force within the EU and also in Switzerland. Should the implementation of the initiated Nuclear Agreement fail, we have to expect that the sanctions will be introduced again.

Rechtsanwalt Dr. Tristan Wegner

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