ruber
10-17-2014, 04:12 PM
Most Czech firms are happy with sanctions against Russia
Close to 70 percent of companies agree with measures taken by the West in reaction to Ukrainian invasion
Prague, Oct. 15 (ČTK) — Nearly 70 percent of Czech firms think the sanctions taken by the West against Russia over the Ukraine crisis have been correct because democratic values need to be safeguarded, a poll conducted by the Czech bank ČSOB for the Czech News Agency among more than 500 companies in mid-September has shown.
The same amount of firms hold the opinion that economic losses incurred by Europe due to Russia's measures are not too big, and it should obviously suffer losses for the sake of Ukraine, the poll has revealed.
"It is interesting that nearly half of [the firms] would take a tougher stance," said Petr Manda, the executive director of the Corporate Banking section at ČSOB.
Firms are not united on whether the state should provide financial compensation to firms that lost profits because of the sanctions. Fifty-five percent of businesses were not in favor of compensations. These were demanded especially by firms whose performance was hit directly by the sanctions, the poll showed.
Three-quarters of firms agree with at least one of the government's proposals aimed to ease the impacts of the sanctions, that is "kurzarbeit" (where the state covers part of the wages in a company with limited production) or lower health and social insurance payments, the latter being slightly preferred.
The European Union sanctions target the capital market, military industry, dual use goods and sensitive technology for crude oil extraction.
Industry and Trade Minister Jan Mládek said in August the EU sanctions against Russia will cut sales of Czech companies around 2.2 billion Kč and jeopardize 700 jobs.
Russia's counter-measures are expected to cause a 300 million Kč shortfall in sales and threaten some 130 jobs.
Close to 70 percent of companies agree with measures taken by the West in reaction to Ukrainian invasion
Prague, Oct. 15 (ČTK) — Nearly 70 percent of Czech firms think the sanctions taken by the West against Russia over the Ukraine crisis have been correct because democratic values need to be safeguarded, a poll conducted by the Czech bank ČSOB for the Czech News Agency among more than 500 companies in mid-September has shown.
The same amount of firms hold the opinion that economic losses incurred by Europe due to Russia's measures are not too big, and it should obviously suffer losses for the sake of Ukraine, the poll has revealed.
"It is interesting that nearly half of [the firms] would take a tougher stance," said Petr Manda, the executive director of the Corporate Banking section at ČSOB.
Firms are not united on whether the state should provide financial compensation to firms that lost profits because of the sanctions. Fifty-five percent of businesses were not in favor of compensations. These were demanded especially by firms whose performance was hit directly by the sanctions, the poll showed.
Three-quarters of firms agree with at least one of the government's proposals aimed to ease the impacts of the sanctions, that is "kurzarbeit" (where the state covers part of the wages in a company with limited production) or lower health and social insurance payments, the latter being slightly preferred.
The European Union sanctions target the capital market, military industry, dual use goods and sensitive technology for crude oil extraction.
Industry and Trade Minister Jan Mládek said in August the EU sanctions against Russia will cut sales of Czech companies around 2.2 billion Kč and jeopardize 700 jobs.
Russia's counter-measures are expected to cause a 300 million Kč shortfall in sales and threaten some 130 jobs.