Swissmem is deeply concerned about the huge violation of international law and the fate of the people of Ukraine. The coming weeks will be difficult for Europe, and unfortunately it is feared that the war will become increasingly brutal. As the war continues, the sanctions imposed on Russia by Switzerland and other groups of states are likely to be tightened further.

These sanctions are already severely restricting Swiss companies’ business transactions with Russia. There is not a complete embargo: companies themselves must check whether products and services can still be exported, shipped, and ultimately paid for. Doing business with Russia also poses a considerable reputational risk.  

There is currently a great deal of uncertainty in companies in general.