Czech firms expect losses of Kc millions due to sanctions - poll


25.08.2014 15:59

Prague - Czech exporters expect to lose contracts worth tens up to millions of crowns at the most over the current sanctions between the EU and Russia in the next 12 months, according to a poll conducted by the Economic Chamber (HK) among nearly 140 Czech firms.


Prezident Hospodářské komory ČR Vladimír Dlouhý. ČTK Němeček Pavel

"The first results of our poll reflect the fact that the sanctions do not apply to contracts from 2013 that are already being materialised. The exporters polled have also confirmed that they will not know the amount of their possible losses before 2015," HK president Vladimir Dlouhy said.

Czech exporters expect tens of contracts and hundreds of jobs to be threatened due to the sanctions.

"These facts confirm that there is no significant panic and fear of the impacts of the current sanction measures among Czech firms at present, with the exception of companies that have already made investments in Russia and now are being forced to restrict the development of their Russian branches," Dlouhy said.

The respondents have also confirmed that there are signals of a deteriorating payment discipline on the part of their Russian partners, which leads to a decrease in bilateral confidence.

Entrepreneurs that will be affected by the sanctions are trying to adjust their production and business programmes and to find customers on alternative markets, the poll has shown.

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