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Ukraine this week, including Montlingen, St. Gallen-based Swiss company NVS Technologies AG announced new sanctions against 181 individuals and 185 companies.
In the decree published on the website of President Volodymyr Zelensky (45) on December 7, it is stated that the sanction lists will be forwarded to responsible governments, including Switzerland.
Among the sanctioned companies, NVS Technologies, an Eastern Swiss company specializing in satellite navigation, ranks 48th. According to the commercial register, the general director with an individual signature is a person named Vasily Engelsberg, who, according to online information, is a Russian citizen.
The presidential decree lists 15 measures against the company: freezing unspecified assets of the company, suspension of licenses and a complete ban on NVS Technologies’ activities.
The company’s “procurement of military goods, works and services” will also be prohibited, and all contracts and projects with NVS Technologies will be terminated.
Ukraine’s new sanctions list does not include detailed information about why “economic and other restrictive measures” were taken.
St. The Gallen company describes itself on its website as a “leading developer of GNSS (Global Navigation Satellite System) receivers.”
This technology is especially used in military technologies such as weapon systems and drones. It is unclear which of NVS Technologies’ products may be used in Ukraine or by wartime foe Russia.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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