The case

According to NZZ the United States and Switzerland have signed a Memorandum of Understanding (MoU) to enhance cooperation in implementing sanctions, particularly those targeting Russia.

Source: U.S. Department of the Treasury and NZZ today

The commentary

The agreement, finalized on May 9, 2025, aims to improve information sharing and coordination between the two countries on sanctions enforcement.

The U.S. Department of the Treasury announced the MoU, highlighting its focus on combating sanctions evasion and supporting the enforcement of measures. Link. While Switzerland’s State Secretariat for Economic Affairs (SECO) has not yet officially commented on the agreement, it is understood that the MoU does not impose new legal obligations but signifies a commitment to closer collaboration.

This development is notable given Switzerland’s traditional stance of neutrality and its cautious approach to international sanctions. In recent years, Switzerland has aligned more closely with European Union sanctions against Russia, including asset freezes and export bans. The new MoU with the U.S. marks a further step in Switzerland’s engagement with international sanctions enforcement.

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