War in Ukraine also affects the high-tech industry: Companies think sanctions against Russia are right

The Russian attack on Ukraine does not remain without consequences for the high-tech industry in Europe. In an executive panel survey, the IVAM Microtechnology Network has obtained the current sentiment regarding the Ukraine crisis among selected executives of the micro and nanotechnology industry.

Half of the respondents are directly or indirectly affected

When asked whether the company or institution is affected by the war in Ukraine, 48% answered that the crisis does not currently affect them. In the other answers, 35% said that their customers are directly affected and thus they are indirectly confronted with the consequences of the crisis, 14% said that their business is directly affected and 3% said that the current situation is even highly critical for their own company. 

Industry experts fully support sanctions  

When asked whether the response in the form of sanctions by the EU and the German government can be judged as appropriate, a clear picture of opinion emerged: None of the respondents answered that the sanctions were felt to be too drastic or that no sanctions should be imposed. All respondents judged the measures adopted to be appropriate or wished for even tougher sanctions against Russia.

Impact on high-tech industry expected

The industry experts surveyed expect the crisis to have a significant impact on Europe's high-tech industries in the medium to long term: 52% of those surveyed expect the crisis to have a significant impact on the technology scene. 3% even said they expected devastating effects. While 14% are still unsure whether there will be noticeable effects in the industry, 31% are confident that there will be no impact for them.

IVAM CEO Dr. Thomas Dietrich on the impact of the crisis on the European high-tech industry: "Our full solidarity is with Ukraine, its people and its companies. We and the organizations in our network strongly condemn Russia's invasion and are fully behind the sanctions imposed. The crisis is massively affecting the high-tech industry in Europe and we hope for a ceasefire and a return to resolving conflicts through diplomatic channels. Peace in Europe is an essential prerequisite for international trade, interdisciplinary research and innovation culture, and thus for the well-being of all people."  

The IVAM Executive Panel is a group of selected executives in small and medium-sized high-tech companies in the micro- and nanotechnology industry. Within the panel, the IVAM Microtechnology Network conducts short surveys on current topics in the fields of business, politics or society.