Newsletter 165 from January 20, 2011 International Sanction

New Ordinance on Sanctions against Certain Persons from Tunisia

On 19 January 2011, based on Article 184 paragraph 3 of the Federal Constitution of the Swiss Confederation, the Federal Council passed a new Ordinance on sanctions against certain persons from Tunisia. This Ordinance came into force on 19 January 2011. Article 1 of this Ordinance provides for the blocking of funds and economic resources. The affected persons, companies and organisations are listed in the Appendix. The Ordinance is available for consultation in the official Compendium of Federal Law.

In accordance with the provisions of the Ordinance on sanctions against certain persons from Tunisia, financial intermediaries are requested to report relevant business relationships to the Directorate of International Law (DIL) of the Federal Department of Foreign Affairs (FDFA), and to block such assets. Reporting to the DIL does not release the financial intermediary from its obligation to immediately report to the Reporting Center for Money Laundering in accordance with Article 9 of the Money Laundering Act.