Switzerland Updates Sanctions List Targeting ISIL and Al‑Qaida Affiliates

BERNE, May 22 (Finances Review) – Switzerland’s State Secretariat for Economic Affairs (SECO) issued an updated list of sanctioned natural persons, companies and organisations tied to the extremist groups ISIL (Da'esh) and Al‑Qaida.

The amendment implements the provisions of the ordinance of 21 March 2025 on measures against persons and entities associated with ISIL and Al‑Qaida (SR 946.231.08), which obliges Swiss authorities to maintain a current roster of designated parties.

SECO, which administers Switzerland’s sanctions regime, regularly revises the list to reflect new intelligence and legal assessments. The latest changes add several individuals and entities identified as supporting or financing the two groups, while removing others deemed no longer a threat.

Financial institutions, asset managers and other obliged entities in Switzerland must screen customers and transactions against the updated list, freeze assets where required and report any breaches to the authorities. Non‑compliance can result in fines or loss of operating licences.

Switzerland, while maintaining a policy of neutrality, aligns its sanctions measures with United Nations Security Council resolutions and the European Union’s restrictive regimes. The updated roster underscores the country’s commitment to curbing the financing of terrorism.

The revisions are expected to enhance cross‑border cooperation with partner jurisdictions, facilitating the tracking of illicit financial flows linked to extremist networks.

SECO will continue to monitor developments and publish further updates as new information becomes available, reinforcing Switzerland’s role in the global fight against terrorism financing.