The Federal Council of Switzerland decided to impose
considerably tighter sanctions on the Democratic People's
Republic of Korea (DPRK), thereby implementing Resolution 2270
(2016) of the UN Security Council. The new Provisions entered into
force on 18 May.
In response to the nuclear and missile testing carried out by
North Korea on 6 January and 7 February, the UN Security Council
issued Resolution 2270 (2016) on 2 March 2016, thus significantly
tightening existing sanctions against North Korea. The resolution
covers more extensive restrictions on the trade in goods, financial
transactions, maritime and air transport and in the education
sector. As a result of the numerous amendments required, the
current ordinance will now be completely revised.
The existing ban on exports for luxury goods has been expanded
to include additional products (luxury watches, certain
recreational vehicles such as personal watercraft and snowmobiles,
items of lead crystal and recreational sports equipment etc.). To
ensure that no prohibited products are being exported to North
Korea, exports and the transit of consignments of goods will now be
checked by customs. The export and transit of goods bound for North
Korea must be authorised by the State Secretariat for Economic
Affairs (SECO) in advance. In a new move, the export of goods that
could possibly increase the operational capabilities of the North
Korean army has been prohibited. Furthermore, the sale and supply
of certain aviation fuels is also prohibited. Also prohibited is
the purchase of certain raw materials (coal, iron, gold and certain
types of ore and rare materials) from North Korea is
The financial sanctions (the freezing of assets and a ban on the
provision of finances) now apply to a wider group of individuals.
All funds and economic resources connected with North Korea's
nuclear and missile programmes have been blocked. This also applies
to funds and economic resources owned or controlled by the Korean
Regime. Swiss banks are prohibited from opening branches,
subsidiaries or agencies in North Korea, while existing branches
and bank accounts in North Korea must be closed by 2 June.
Conversely, North Korean banks are prohibited to run subsidiaries
or branches in Switzerland.
In the education sector, citizens of the Democratic People's
Republic of Korea will not be permitted to take certain courses
(such as higher physics, advanced computer simulation or nuclear
engineering). Moreover, military, paramilitary and police training
for instructors, consultants and government officials from North
Korea is also prohibited.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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