Switzerland has begun banning purchases and imports of Sudanese gold and restricting mining supplies in an effort to choke off a source of financing for the country’s three-year war.
The measures prohibit the purchase, import and transit of gold originating in Sudan, along with related services and financial assistance. Switzerland has also banned the sale and supply of certain goods used to mine and extract gold, including chemicals.
The Swiss government said it remains “extremely concerned” about Sudan’s “dire humanitarian situation,” as fighting between the Sudanese Armed Forces (SAF) and the paramilitary Rapid Support Forces (RSF) continues.
The restrictions bring Switzerland into line with European Union measures adopted July 13 as Western governments increasingly target the gold trade underpinning Sudan’s “war economy.” Gold has become an important source of revenue for both sides of the conflict, according to the EU.
War financing
The EU measures prohibit the purchase, import and transfer of Sudanese gold and the sale, supply, transfer or export of mercury and cyanide to the country. They also cover related technical assistance, brokering and financial services.
The bloc established its Sudan sanctions framework in October 2023, several months after fighting erupted between the SAF and RSF in April of that year. It has since expanded the regime to target people and entities accused of undermining Sudan’s stability and political transition.
Switzerland will incorporate its new restrictions into its existing Ordinance on measures against Sudan. The country has used the ordinance to implement UN sanctions since 2005 and has added EU measures since 2023.
The sanctions regime already includes an arms embargo and financial and travel restrictions against 36 individuals, entities and companies, according to the Federal Council.
Switzerland also imposes due-diligence requirements on imports of gold and other precious metals aimed at preventing trade in conflict resources.
Source: https://www.mining.com/swiss-gold-ban-squeezes-sudans-war-economy/
