Switzerland joins EU sanctions on Sudan gold trade amid war

Switzerland will ban the purchase and import of gold originating from Sudan and prohibit the sale of certain goods used in gold mining and extraction, aligning measures with sanctions adopted by the EU, the Swiss government said Wednesday.

The Federal Council said it remained “extremely concerned” about the “dire humanitarian situation” in Sudan, describing gold as “reportedly a key conflict resource for the war.”

The measures will take effect Thursday.

Under the new rules, Switzerland will ban the “purchase, import and transit” of gold originating from Sudan, as well as the provision of related services and financial assistance connected to the gold.

The Federal Council also said Switzerland would prohibit the “sale and supply to Sudan of certain goods” used in gold mining and gold extraction, including chemicals.

The measures bring Switzerland into line with an EU decision adopted July 13 targeting trade in gold originating from Sudan.

The EU decision bans the “purchase, import and transfer” of gold originating in Sudan and prohibits the sale, supply, transfer or export of mercury and cyanide to Sudan, chemicals widely used in gold mining and extraction.

The measures also cover related technical assistance, brokering services and financial assistance, according to the EU.

The new restrictions will be incorporated into Switzerland’s existing Ordinance on measures against Sudan, through which it has implemented UN sanctions related to Sudan since 2005.

The Federal Council said Switzerland has also used the same ordinance to implement “additional EU measures” since 2023.

The sanctions regime includes an arms embargo as well as targeted financial and travel restrictions against 36 individuals, entities and companies, according to the council.

Switzerland applies “strict due diligence requirements” to imports of gold and other precious metals, which the Federal Council said are intended to prevent trade in “conflict resources.”

The EU established its sanctions framework on Sudan in October 2023, after fighting broke out between the Sudanese Armed Forces and the Rapid Support Forces in April of that year.

The framework has since been expanded to target those responsible for undermining Sudan’s stability and political transition.

In July, the EU expanded the regime to target Sudan’s “war economy,” saying the new measures were designed to “curb sources of financing for the conflict.”

The bloc described gold as “a key source of revenue sustaining the conflict.”