Almost two-thirds of UK companies have suffered from the effects of anti-Russian sanctions. This was reported by the British newspaper Daily Mail on 14 August, citing a survey by insurance agency Mactavish.
The survey found that 71 per cent of respondents had assets directly affected by the restrictions against Moscow. Nearly half of the companies said they had suffered higher costs and supply chain disruptions, 44% had lost suppliers and a smaller number (42%) were experiencing personnel problems.
The financial and aviation sectors were the hardest hit. More than 90% of financial companies said the anti-Russian sanctions had hurt them because of restrictions on Russian assets and funds with which they worked. 84% of companies in the aviation industry also reported losses.
Mactavish CEO Bruce Hepburn commented on the survey results, noting that the impact of the coronavirus pandemic and the conflict around Ukraine had “exposed serious limitations in the industry, characterised by more coverage restrictions, less capacity, higher prices and more disputes”.
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