Despite the sanctions imposed by Bern, Swiss exports to Russia have experienced only a slight decline since the outbreak of the war. Above all, exports of pharmaceutical products have, for their part, jumped to record levels, according to figures from the Federal Office of Customs and Border Security (OFDF) made public on Sunday. Main reason: medicines are considered humanitarian products and are therefore exempt from sanctions.
In total, Swiss exports to Russia reached 2.9 billion Swiss francs (2.94 billion euros) between March 2022 and February 2023, compared to 3.5 billion in the previous twelve months. Exports of pharmaceutical products, on the other hand, have increased by 40%, from 1.4 billion Swiss francs to some two billion since the invasion of Ukraine, and currently account for around a third of Swiss exports to Russia.