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Switzerland partially lifts Iran sanctions

Switzerland is lifting part of its sanctions against Iran this week. This concerned in particular the reporting obligation for the transport and trade with Iranian oil. The reporting obligations for other trade in petrochemical goods had also been lifted. Loosening is also planned in the financial sector and with regard to precious metal transactions with government offices.

Repeal of Iranian sanctions only partially

In this respect, Switzerland is also taking the step that the European Union is currently taking with the partial lifting of Iran sanctions. However, the vast majority of sanctions against Iran remain in force both within the EU and in Switzerland. If the implementation of the envisaged nuclear agreement should fail, it is to be expected that the sanctions will be reintroduced both in the EU and in Switzerland.

Attorney Dr. Tristan Wegner

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