The Swiss Federal Council, Switzerland's top administrative body, on Monday decided to adopt the packages of sanctions imposed by the European Union (EU) against Russia, including freezing the assets of a number of Russian individuals and companies.

The council said in a statement issued Monday afternoon that the financial sanctions against Russian President Vladimir Putin, Prime Minister Mikhail Mishustin and Foreign Minister Sergey Lavrov are also to be implemented with immediate effect.

The council has also decided to impose entry bans against a number of individuals "who have a connection to Switzerland and are close to the Russian president."

In addition, the statement said, in line with airspace closures in other European countries, Swiss airspace will be closed to all flights from Russia and to all movements of aircraft with Russian markings from 3 p.m. on Monday with the exception of flights for humanitarian, medical or diplomatic purposes.

The council reaffirmed in the statement Switzerland's willingness to actively contribute to a solution to the Russia-Ukraine conflict.