Switzerland on Tuesday added 26 Russians and Ukrainians and 18 organizations to a list designed to prevent it being used as a conduit to circumvent Western sanctions against Russia.
This latest move, which tracks the individuals and organizations on the European Union's sanctions list, raises the number of people affected to 87 and the number of organizations to 20. The measures will come into force at 5:00 p.m. London time on Tuesday.
Switzerland decided in March against imposing its own sanctions in response to the Ukraine crisis and its economy minister said last weekend the cabinet had no plans to change this policy.
Instead, it has taken measures to ensure it does not become a place for individuals or funds to bypass European sanctions.
Those named on the list are prohibited from entering into new business relationships with financial intermediaries in Switzerland. This is aimed at preventing assets held outside of the EU being transferred to Switzerland.