Following Russia’s invasion of Ukraine on February 24, Eurochambres, the European association of chambers of commerce and industry, issued a press release condemning a military aggression that constitutes “a serious threat to the security and stability of Europe at large.” Eurochambres also expressed its wholehearted support for and solidarity with its colleagues at the Ukrainian chamber of commerce, with the country’s business community and all the citizens of Ukraine.

The association, which was founded in 1958 and has members also in Russia, stated it advocates a firm and robust response, including the imposition of economic sanctions, against the war declared by Vladimir Putin. Eurochambres hopes that “targeted, effective measures” will be introduced, measures that will “minimise collateral damage for Europe’s economy,” at a time when it is just beginning to recover from the pandemic’s impact.

Eurochambres also underlined its conviction that “trade connects people, overcoming political and cultural barriers, generating prosperity and strengthening security. But trade rests on an international system of rules that has been dangerously undermined by Russia’s actions.”