Confederation statement on new EU sanctions

The Confederation of Industry of the Czech Republic expresses its strong concern over the proposal to adopt another wave of EU sanctions against the Russian Federation. The sanctions are a political decision and the most important association of Czech employers takes them as they come, on the other side, the Confederation warns about the negative impact the sanctions could have on the domestic industrial companies and their export.

If the extending of sanctions has an impact on the export of dual use technologies as special materials, machine tools, computers and electronics, the economic condition of many domestic companies would worsen.

The companies doing business on the Russian market are talking about a possible loss of contracts and problems with trade financing.

We demand that the impact of sanctions on the indiviual companies and branches would be clearly assessed. We await that the Czech government will search for solutions how to help the companies and branches hit by the sanctions.