Trending

Switzerland breaks neutral status to sanction Russia over Ukraine invasion

Business Insider US
Russian President Vladimir Putin.

Switzerland broke its historically neutral status to sanction Russia over its invasion of Ukraine.

In a statement Monday, Switzerland's federal council said it was adopting the European Union's sanctions against Russia, effective immediately.

The sanctions package targets various Russian companies and individuals, and involves freezing the personal assets of Russian President Vladimir Putin, Prime Minister Mikhail Mishustin, and Foreign Minister Sergey Lavrov.

The federal council said it would also bar people close to Putin from entering Switzerland, and send relief supplies to Poland to help with settling Ukrainian refugees.

"Switzerland reaffirms its solidarity with Ukraine and its people," the statement said.

This story is developing. Please check back for updates.

Get the best of our site emailed to you every weekday.

Go to the Business Insider front page for more stories.

Rand - Dollar
16.45
-1.6%
Rand - Pound
19.83
-1.0%
Rand - Euro
16.72
-0.6%
Rand - Aus dollar
11.56
-0.3%
Rand - Yen
0.12
-1.7%
Gold
1,778.99
-1.3%
Silver
20.26
-2.7%
Palladium
2,159.00
-3.1%
Platinum
937.50
-3.0%
Brent Crude
98.15
-1.5%
Top 40
64,022
+0.0%
All Share
70,741
+0.0%
Resource 10
63,315
-1.2%
Industrial 25
86,967
+0.5%
Financial 15
16,154
+0.6%
All JSE data delayed by at least 15 minutes Iress logo