What Changed
- The UN Security Council amended the list of sanctioned persons, companies, and organizations for the Republic of Iraq on 5 October 2026.
- The amendments are directly applicable under Swiss law.
- SECO updated the official SESAM sanctions database and published the changes on 7 October 2026.
On 5 October 2026, the UN Security Council amended its sanctions list of individuals, companies, and organizations concerning the Republic of Iraq. The modification is directly applicable in Switzerland.
Consequently, the State Secretariat for Economic Affairs (SECO) updated Switzerland's relevant sanctions database, SESAM (SECO Sanctions Management), and published the changes on its website on 7 October 2026. Swiss financial market participants and entities must take note of these directly applicable changes to remain compliant with federal sanctions regulations.
Who May Be Affected
Individuals, companies, financial institutions, and organizations operating in or dealing with Switzerland that are subject to Swiss sanctions compliance rules.
Cross-Border Context
Direct implementation in Switzerland of international sanctions established by the UN Security Council regarding Iraq.
What to check next
- Check SECO's SESAM (SECO Sanctions Management) database on the official SECO website to identify specific individuals or entities added or removed.
This article provides general information and does not constitute legal advice. Consult the official text and obtain advice appropriate to your circumstances where needed.