Banks and private companies are starting to actively try to disengage from any companies that are on the state’s sanctions list as part of a zero-risk policy. [...] As a result, prices are rising in the country, there is a very high level of inflation in the country, and the country is losing the ability to trade with other countries. We aren’t only talking about state-owned companies, or about the state as a whole, but about private business as well — Alena Douhan, UN Special Rapporteur on the Negative Impact of Unilateral Coercive Measures on the Enjoyment of Human Rights.
Sanctions are appearing and, naturally, everyone is afraid of transactions or afraid of breaking some rules, especially when it comes to small businesses or small companies. [...] Sanctions are definitely being used as a weapon in this regard, but considering that sanctions exist, they need to be controlled. Of course, there is a fear of sanctions. So, at some point decisions are made to not take action — Tony Ewing, Managing Director, Conquer Risk Capital; Advisory Board Member, RC Investments.
French companies haven’t left Russia, unlike representatives of some other European countries. But, of course, they have had to adapt, especially in terms of financing. […] This is a big problem for our small [companies], medium-sized businesses, and for export from France. When they see the word Russia, banks move away at the very least and don’t always even bother looking at what the issue is — Arnaud Dubien, Director of the Observo, Analytical Centre of the Franco-Russian Chamber of Commerce.