# 4 / 2022

The Swiss economy and the war in Ukraine – economic and humanitarian perspectives

The war in Ukraine is first and foremost a humanitarian tragedy. Yet it also affects the Swiss economy directly and indirectly. Recent member surveys conducted by economiesuisse show that Swiss companies and their employees have provided extensive humanitarian aid by way of donations, in-kind contributions, and volunteer work in the actual war zones, along refugee routes, and also in Switzerland since the start of the war. This is shown by member surveys conducted by economiesuisse.

Executive summary

Russia’s large-scale war of aggression against Ukraine since February 24, 2022, marks a historical turning point in Europe and beyond. The dramatic developments in the war in Ukraine over the past several months also have far-reaching consequences for Switzerland – from a humanitarian perspective as well as in terms of security and the economy. The Swiss business community strongly condemns the war of aggression against Ukraine. Russia's blatant breach of international law is totally unacceptable.

This position paper details the direct and indirect economic impacts of the Ukraine war on the Swiss economy and shows the extent of the Swiss private sector involvement in humanitarian activities in connection with the war in Ukraine. economiesuisse recently conducted comprehensive member surveys on both issues.

economiesuisse firmly believes that the private sector in particular can significantly contribute to alleviating the immediate suffering of the victims of war in Ukraine. All Swiss companies are hereby called upon to pitch in as best they can. Such support is likely to become even more crucial as the war drags on.

Positions of economiesuisse

The tragedy of the war in Ukraine plainly demonstrates the fundamental importance of peace.

  • Russia's war of aggression on Ukraine is unacceptable and is condemned in the strongest possible terms. The Swiss business community fully supports the sanctions imposed by the national government against Russia.
  • The direct effects of the sanctions against Russia and Belarus on bilateral trade relations with Switzerland are minor. However, indirect effects such as supply chain bottlenecks, logistical problems and rising prices are challenging.
  • The civilian population of Ukraine must be helped. Aid organisations, the Swiss Confederation, private initiatives, and companies are making a joint effort to support the suffering population.
  • The humanitarian commitment of Swiss companies shows how the business community is helping the Ukrainian population in concrete terms. Hopefully this will motivate more companies to take action as well.