Sanctions that were made by the European Union haven’t yet directly influenced Czech export. On the other hand the experts fear that the impacts could be indirect in the form of decreasing exports to Germany which make 30 % of total as some of the products eventually end in Russia. Main export sector to Russia including heavy machinery and automobiles which constitute about 70 % could be affected. Another area that will be significantly affected is the sector of foreign investments to Russia and from Russia to the Czech Republic as it could affect financing form the Czech and Russian Banks. Czech companies with ties to the Russian capital often refuse to comment the sanction regime and speculate on this theme as is the case of Škoda JS owned by OMZ owned by Gazprombank which is already on the US sanctions list.
5th March 2019