"The Swiss trading partners [from Russia] are in general affected by [Russia's] economic crisis (oil price, weak ruble, import substitution). Swiss companies, however, will adapt and presently most of them consider Russia as a large and promising long-term market," Helg emphasized.
Russia’s economic performance has been experiencing a slowdown since mid-2014, due to a fall in global oil prices and several rounds of anti-Russia sanctions imposed by Western countries over Moscow’s alleged involvement in Ukraine’s internal conflict, which Russia has refuted.
The Russian national currency, the ruble, has lost about half of its value against the dollar since summer 2014.
Switzerland is not a member of the European Union but it decide to follow the economic bloc in adding a number of Russian individuals, banks and other entities to a blacklist.
