The Swiss government has expanded sanctions against Russia in line with the latest European Union measures against gold and gold products, Reuters reports.

The government said it made two new exemptions for transactions related to agricultural products and oil supplies to third countries, which the EU also has, to avoid any disruption in payment channels.

The new measures primarily relate to a ban on the purchase, import or transportation of gold and gold items from Russia. Services in connection with these goods are also prohibited, the government said in a statement.

Switzerland is committed to overcoming the global food and energy crisis, and none of the measures against Russia was directed against trade in agricultural or food products between third countries and Russia.

In order to avoid disrupting payment channels, the Federal Council has made two new exceptions for transactions related to agricultural products and oil supplies to third countries, just like the EU, the report says.

The purchase of Russian offshore oil by EU companies and its export to third countries is allowed, but according to amendments to EU sanctions on Russia that came into force last month, payments related to such supplies will not be prohibited.

The Swiss government noted that Russia's largest bank, Sberbank, has also frozen its assets and is prohibited from providing funds, economic resources or technical services. New exceptions are being introduced to ensure orderly closing of transactions and sale of Sberbank subsidiaries.