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Eurochambres expresses concern over Ukraine crisis and possible implications for businesses

By Rachel Douglass

1 Mar 2022

Business

Image: Eurochambres

Eurochambres, the association of European Chambers of commerce and industry, has voiced its concerns over the ongoing Ukraine crisis, both in terms of civilian security and the effect it could have on European business.

The organisation said it condemned “in the strongest possible terms” the “unprovoked invasion” by Russia against Ukraine, in a statement, further extending its solidarity towards the chamber’s Ukrainian colleagues, the country’s entrepreneurial community and citizens, alike.

Eurochambres, which also has members in Russia, noted that the aggression poses a threat to European security and stability, stating that trade surmounts “political or cultural barriers”. It added that trade also relies on rule-based international order, which it said “Russia’s actions dangerously undermine”.

In consideration of Europe’s post-pandemic recovery

While the chamber showed support for the rolling out of economic sanctions from the EU on Russia, it called on the union to implement the measures in an effective manner to avoid extensive damage to the European economy.

It added: “We should not overlook the fact that Europe as a whole is still in the early stages of a post-pandemic economic recovery, or ignore the impact of rising energy costs and supply chain disruption on our companies.”

The organisation and its national chambers are set to provide companies in Ukraine with advice and assistance. It has further requested for government institutions to protect businesses and critical infrastructure during these unprecedented times, with support for possible retaliatory measures.

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