Thursday 24 February 2022

Richard Burge, Chief Executive of the London Chamber of Commerce and Industry, said:

“Russia’s illegal invasion of Ukraine is hugely worrying and LCCI’s first thoughts are with the Ukrainian people. As a global city, world events have a real impact on London and its economy. This invasion will have difficult and painful repercussions for all of Europe, and that includes the UK and London. While it may be tempting to separate commerce and conflict, there can be no prosperity without security, and the security norms that have underpinned Europe for decades has been shattered.

"London businesses need to be aware of the potential long-term consequences of Russia’s actions and be prepared to respond in ways that they can. London’s business leaders should not hold their tongue. What Russia’s government has done will massively destabilise the global economy and the City should have acted earlier to guard against this impact. Alarm bells should have rung sooner in the City and Financial Services Sector over too many ties to Russian money. We cannot let London be seen as an enabler of a rogue state that has broken international law, invaded a sovereign democracy, and now precipitated civilian death and suffering. Doing nothing is no longer an option - London’s business leaders must step up and protect London's financial and business interests against the threats it now faces."

ENDS

Upcoming Event on the Crisis in Ukraine
On Thursday 3 March, LCCI will be running and event on the crisis in Ukraine – the impact on UK business. Join LCCI CEO, Richard Burge as he talks with our expert panel who will share their insights as to the potential implications for businesses in the current crisis in Ukraine. Topics will likely include supply chains, freight and logistics, cyber security, finance and energy.