Switzerland has lifted sanctions on Eurochem, owned by Russian oligarch Andrei Melnichenko, reports RBC-Ukraine citing Tages-Anzeiger.
Melnichenko circumvented the restrictions by transferring assets to his wife.
Following that, the Swiss State Secretariat for Economic Affairs unblocked the accounts of "Eurochem," coming under harsh criticism from the country's leading political forces.
The company came under EU sanctions in early March. Melnichenko left the board of directors of "Eurochem" and transferred the assets to his wife. As she is formally the company's sole beneficiary, Switzerland unblocked the company's accounts on March 30.
In April, Switzerland, Norway, Iceland and Liechtenstein joined the countries restricting Russia's access to technology.
That same month, Switzerland delayed the supply of German weapons to Ukraine.