Switzerland Won’t Implement the EU’s Russia Sanctions on Subsidiaries – BNN Bloomberg

(Bloomberg) — Switzerland has decided not to fully implement the latest package of European Union sanctions against Russia, saying Swiss law already allows measures to prosecute subsidiaries of companies based in the country.

“With the 14th sanctions package, the EU has introduced a general obligation for businesses to ensure that their subsidiaries in third countries do not undermine the EU’s sanctions,” the government said in a statement on Wednesday.

“Under the current sanctions law, Switzerland already has the means to prosecute…