About six percent of large Swiss companies that exited the Russian market due to the special operation in Ukraine are considering a return within the next three years. This finding comes from a survey carried out by the Credit Suisse research institute, a longstanding authority on corporate trends across Europe. The publication notes that another six percent of large firms surveyed intend to start or resume activities in Russia over the same three‑year horizon, signaling a potential shift in regional strategy as market conditions evolve.
Credit Suisse provides a detailed breakdown of responses by company size. The survey reveals that four percent of micro enterprises, three percent of small enterprises, eight percent of medium-sized enterprises, and nearly one in four large companies ceased operations in Russia during the past year. This dispersion hints at how scale influences risk assessment and the capacity to withstand sanctions, operational disruptions, and market volatility in the Russian economy.
Meanwhile, the survey highlights a notable sentiment among foreign partners regarding Switzerland’s stance on sanctions against Russia. A significant share of respondents, about 40 percent, expressed a negative reaction to Switzerland’s support of restrictive measures in business dealings with Swiss affiliates. This reaction underscores the tensions that can arise when sanctions intersect with transnational supply chains and collaborative networks, even as Swiss firms maintain their regulatory commitments.
Separately, discussions in the economic community point to a broader pattern of renewed activity by Western brands in Russia. Vladimir Klimanov, a respected analyst from the Institute of Social Sciences, notes that Western cosmetics brands are reentering the Russian market because the potential profits remain substantial. He also emphasizes that enduring ties between Russian manufacturers and Western companies continue to support production profitability, even in the face of ongoing sanctions. This observation reflects a complex balance between compliance, market access, and enduring business relationships that shape corporate decisions in the region.
From a strategic perspective, Swiss and international firms appear to be recalibrating risk, supply chain resilience, and local partnerships as they navigate sanctions regimes and fluctuating demand. The creditable data from Credit Suisse suggests that some companies view Russia not only as a temporary disruption but as a market with persistent, albeit carefully managed, opportunities. The evolving narrative underscores the importance of thorough due diligence, diversified operations, and clear geopolitical risk assessment for multinationals with exposure to Eastern European markets. In this context, executives are weighing the benefits of market presence against the sanctions climate, currency dynamics, and regulatory changes that influence long‑term profitability and strategic footprint in the region. The interplay between regulatory constraints and corporate incentives continues to shape decisions on market participation, exit strategies, and potential reinvestment in Russia as conditions shift over time.
Overall, the survey from Credit Suisse paints a nuanced picture of how Swiss and international enterprises are navigating a challenging geopolitical landscape. It emphasizes that size and structure of a company influence responses to sanctions, that partner sentiment can alter strategic relationships, and that some sectors view the Russian market as sufficiently advantageous to warrant renewed or continued engagement despite the risks. The evolution of these attitudes will likely depend on ongoing policy developments, the effectiveness of sanctions, and the ability of firms to adapt their operations to new regulatory realities while maintaining core commercial objectives.