Swiss Federal Department of Economic Affairs, Education, and Research (EAER) expanded its sanctions list against Russia and Belarus on Friday (May 22), following the EU’s 20th round of sanctions. Switzerland also adopted a portion of the latest EU sanctions targeting Russia for its actions in the Ukraine conflict, which came into effect at 11 pm local time on May 22.
On May 22, the Swiss Federal Department of Economic Affairs, Education, and Research announced the adoption of some of the EU’s sanctions list and new measures. Due to Russia’s ongoing aggression towards Ukraine, the EU passed new measures on April 23, 2026, against Russia and Belarus as part of its 20th round of sanctions. The EU’s 20th round added approximately 120 individuals and entities to the sanctions list, of which Switzerland adopted most, totaling 115 added individuals and entities.
According to the EAER official website, the newly added 115 individuals and entities will face asset freezes and bans on providing funds. These individuals are also prohibited from entering or transiting through Switzerland. The newly sanctioned individuals and entities notably include those affiliated with or serving in the Russian military-industrial complex and energy sector, as well as those involved in the deportation and indoctrination of Ukrainian children.
However, Switzerland currently does not include seven companies located in third countries on the sanctions list to ensure that the sanctions are not circumvented. In the realm of trade, 60 new companies (including some located in third countries) will face stricter export control measures to prevent the supply of critical materials to the Russian military-industrial complex. In addition to export control measures, the EU froze the assets of these 60 companies within the EU.
Yangzhou Yangjie Electronic Technology Co., Ltd., known as Yangjie Technology, was included in the EU and Russia-related military supply chain sanctions list in April for providing “dual-use technology and electronic components” to Russian entities supporting Russia’s defense and security sectors.
Yangjie Technology has been accused of exporting over 200 batches of dual-use technology to Russia following its invasion of Ukraine and maintaining business ties with entities within Russia’s defense and industrial system. Its products were found to be used in unmanned drones and ammunition utilized by the Russian military on the battlefield in Ukraine. As part of the sanctions, the EU prohibits entities within its borders from providing funds or economic resources to Yangjie Technology and freezes its assets within the EU.
Public records show that Yangjie Technology was founded in August 2006 and listed on the Shenzhen Stock Exchange’s GEM board in January 2014. It is one of the few Chinese companies engaged in the design and manufacturing of semiconductor discrete components, packaging, testing, terminal sales, and services integrated in the semiconductor manufacturing industry. Its products include rectifier devices, bridge rectifiers, metal-oxide-semiconductor field-effect transistors (MOSFETs), insulated gate bipolar transistors (IGBTs), silicon carbide products, protection devices, and small-signal components.
These fundamental electronic components produced by Yangjie Technology are widely used in industrial equipment, chargers, servers, automotive systems, network equipment, and power supplies. The EU’s sanctions shifting from high-end products like AI chips to more foundational semiconductor components like rectifiers and MOSFETs may seem inconspicuous, but they are crucial elements in military systems, industrial equipment, communication devices, drones, and power conversion systems.
Yangjie Technology’s violations extend beyond the Russian export issues. It acquired shares in a Taiwanese company through a British Virgin Islands company without the approval of the Taiwan government, recruited semiconductor engineers in Taiwan, and engaged in business activities illegally. Taiwan’s Investigation Bureau mentioned Yangjie Technology as one of the “Chinese” companies involved in illegal headhunting of high-tech talents in Taiwan in an article on March 30 on its official website.
Switzerland is taking further measures to curb the activities of Russia’s “shadow fleet” in coordination with the EU, encompassing 46 vessels under a comprehensive ban on purchase, sale, and services. Additionally, Switzerland, in alignment with the EU, has lifted existing sanctions on 11 other vessels.
Furthermore, two Russian ports and a port located in a third country used for transporting Russian oil products are also included in the scope of the trading ban. The related measures have exceptions in accordance with EU regulations.
Additionally, 20 Russian banks and seven financial intermediaries located in third countries have been added to the trading ban list for undermining the purpose of sanctions against Russia.
Starting from May 26, 2026, transactions involving the Russian cryptocurrency RUBx and digital ruble will be prohibited.
The Swiss Federal Council stated that the EU’s 20th round of sanctions includes a series of further measures in the financial, energy, and trade sectors. Switzerland will review these comprehensive measures and provide further updates.