Sanctions and Countersanctions Concerning the Russian Federation: The Czech Business Perspective

Abstract

The goal of the paper is to assess how Czech businesses have been impacted by the sanctions and countersanctions and their opinions on the issue. Companies being members of the Chamber of Trade and Industry for CIS Countries were addressed. From the surveyed companies that traded with Russia before 2014 and are currently engaged in trade with Russia, it was made evident that their overall attitude regarding the sanctions and countersanctions is rather negative. The research shows that business sector in the Czech Republic feels strong effects from the sanctions and countersanctions and believes it would benefit from their removal.

Keywords:

• Countersanctions
• Czech Republic
• EU
• international business
• Russia
• trade
• trade barriers

Acknowledgments

This article was prepared with the institutional support of the Faculty of International Relations and the Faculty of Informatics and Statistics of the University of Economics, Prague.