Sanctions against Russia – Information for affected companies

What impact do the Russia sanctions have on your company? Together we will find answers.

The war in Ukraine is a tectonic upheaval the likes of which Europe has not seen in decades. It is endangering the lives of numerous people, and many more are fleeing the crisis area. Companies are withdrawing their employees from the war zones and taking them to safety.

The armed conflicts are also having a significant impact on the risk positions and strategies of many companies. Short-, medium- and long-term changes are required.

Companies and corporations are faced with numerous questions and challenges that affect very different areas.

  • Under which conditions are employees fleeing Ukraine allowed to work in Switzerland for a limited period of time?
  • Are there any facilitated procedures for residence/work permits or visas in Switzerland (e.g. Remote Working Visa, Digital Nomad Visa, or similar)?
  • What is the insurance status of Ukrainian citizens when they temporarily stay or work in Switzerland?
  • Does Ukraine have a social security agreement with Switzerland?
  • What are the tax consequences when employees who have fled Ukraine work in Switzerland?
  • Can Ukrainian employees work in Switzerland or other EU countries even if the employer does not have a branch there?

Your key contact: Dennis McEvoy

Further information: Global Mobility Services

  • How are currency effects from the drastic devaluation of the ruble treated for income tax purposes?
  • How can costs and losses from the crisis-related severance of business relationships with Russian companies be used for income tax purposes?
  • Is there a risk that the double taxation agreement between countries will be abrogated and how would my company be affected by this?

Your key contact: Stefan Kuhn

Further information: Corporate Tax

  • Which are the goods that can be exported to Russia and under what conditions?
  • With whom may business be done and what are the restrictions on payments? 
  • What restrictions apply to imports from Ukraine, Russia or Belarus?
  • Do additional compliance checks have to be carried out due to the new sanctions?
  • What happens if the sanctions provisions are not fulfilled? 

Your key contact: Mathias Bopp

Further information: Trade & Customs

  • What is the impact of sanctions against Russia on cross-border financing and payment flows?
  • Are adjustments to the existing transfer pricing model and underlying contracts required due to war effects (e.g. the disruption of supply chains)?
  • Will ongoing (advance) mutual agreement procedures (APAs and MAPs) between Russia and Switzerland continue? Can new requests be submitted at this time?
  • How should it be handled from a transfer pricing perspective if business activities in the various countries have been discontinued?

Your key contact: Gerhard Foth

Further information: Transfer Pricing Services 

  • What threats should your company be prepared for now?
  • What are the implications for your cyber security strategy?

Your key contact: Matthias Bossardt

Further information: Cyber & Digital Risk Consulting

  • How can your company respond to disrupted supply chains in the short term and what can long-term changes look like?

Your key contact: Christoph Wolleb

Further information: Sustainable Supply Chain

  • How do I identify business relationships that fall within the scope of economic sanctions?
  • What courses of action are available if economic sanctions apply to my business partners?
  • How do I ensure know-your-customer checks and transaction monitoring?
  • How do I protect myself against non-payment by business partners affected by economic sanctions?
  • How do I recognize prohibited circumvention transactions?

Further information: 

Forensic consulting
Cyber & Digital Risk Consulting

  • Are the implications of the war and the related events adjusting or non-adjusting events?
  • What disclosures might be required?
  • What are the implications for the going concern assumption?
  • What are the implications if there is significant doubt on the entity’s ability to continue as a going concern?
  • What are the implications if the going concern basis of preparation is no longer considered appropriate?

Further information: Accounting Advisory Services

Discover more


Gain expert insights into navigating complex legal landscapes. Discover tailored solutions for regulatory compliance, corporate governance, and personal estate law for Swiss companies.