The Economic Impact of the Russia-Ukraine War

Our survey shows that companies are unsettled about the current situation. Above all, sanctions and price increases are major challenges.


German companies with business relations to Russia and Ukraine are looking ahead to the coming months with great uncertainty. This is shown by a survey of 280 companies that we conducted. In particular, the drastic supply bottlenecks and price increases as well as the sanctions against Russia pose major challenges for companies.

As a result of the war in Ukraine, 46 percent expect a drop in sales and 47 percent a drop in earnings. In addition, 80 percent assume that the Ukraine war will negatively impact their company for longer than a year. Forty percent fear negative effects lasting longer than three years.