The AEB comments on new EU sanctions

July 30, 2014

The Association of European Businesses (AEB) deeply regrets the new sanctions imposed by the EU on Russia.

The AEB represents more than 600 companies and many of AEB members do business in both Russia and Ukraine. They therefore have first-hand knowledge and experience of business in this region and can estimate the impact of sanctions.

The AEB understands that businesses create growth, value and jobs for the people of the EU, Russia and the Ukraine and also act as a bridge between these countries.

Considering the volume of the trade between Russia and the EU, and Russia and the Ukraine, the AEB expects that these new sanctions will not only hurt the Russian economy, but also will restrict growth in both the EU and the Ukraine.

The AEB strongly re-states its position in favour of the de-escalation of the conflict and calls on the Heads of States and Governments of the EU, Russia and the Ukraine to organize as quickly as possible an International Conference, with all the parties involved, to put a stop to the de facto civil war in Ukraine and find a common, mutually acceptable, solution in the spirit of peace and conciliation.

Source: AEB, 2014.