GENEVA - The Swiss government will suspend an agreement that provided for speedy visa approvals for Russian citizens, following a similar measure by the European Union earlier this month.
Russian citizens will now need to use the regular visa approval process, instead of an arrangement in place since 2009 which sped up disbursal of the entry permits and reduced costs.
The decision is in Switzerland's interests as it preserves the unity of visa policies in Europe, the government said in a press release on Friday.
Switzerland will also suspend an agreement with Russia relating to the exchange of information on taxation, according to a separate statement. BLOOMBERG