- Sanctions "highly limit the business activity of Swiss companies," experts said
According to TASS, Russia's state-owned news agency article published on February 3, 2023, about 6% of Swiss majors that suspended operations in Russia or left due to the developments in Ukraine intend to return to the Russian market in the next three years, Credit Suisse’s research center said in its report, based on a poll of 650 companies, including fifty majors.
"Six percent of majors polled plan to start or resume their operations in Russia over the next three years," the report reads. The implementation of these projects will depend on the situation in Ukraine, experts noted.
According to the research, six percent of polled companies halted business ties with Russia over the last three years. Among them are 4% of micro companies, 3% of small businesses, 8% of medium enterprises, and about a quarter of majors.
Sanctions "highly limit the business activity of Swiss companies," experts said. "Despite the absence of an all-out embargo, they must carefully weigh whether it makes sense to maintain business relations in such challenging conditions," the research reads.
About 40% of Swiss companies surveyed reported negative reactions from business partners to Switzerland’s decision to participate in anti-Russian sanctions.
