Russia/Ukraine - what it means for your business

4 March 2022

Dear member,

We are all saddened and moved by the recent developments in Ukraine as war comes to Europe once again. Our thoughts go to the Ukrainian people, now finding themselves in a state of emergency, as they suffer and fight. A unified western community condemns the war.

Swedish businesses have a tradition of investment, trade and exchange with, and a footprint in both Ukraine and Russia.

Whilst economic impact seems trivial in the greater scheme of things, nonetheless the impact will be felt through western society too, and businesses will be affected.

When summarising the last couple of years, it's daunting to consider the amount of stress-testing we have all been through (Brexit, pandemic, fueled concerns about the impact of climate change, and now the unthinkable - war in Europe), and are still going through.

At the SCC we follow the evolution of events in order to help our members navigate the latest and most relevant information. We have pulled together some useful resources which might be helpful when trying to understand how this impacts you and your business. In addition, we are hosting a number of events related to the changing business landscape, including Brexit, security and the global economy.

If you have any other questions, do not hesitate to reach out to the Chamber at info@scc.org.uk or 02072248001.

Related events

15 March: New Relationship Roundtable feat. The National Board of Trade Sweden

22 March: Business Breakfast with Jens Magnusson, Chief Economist, SEB

30 March: Business Breakfast on the Security Situation in Europe with Air Chief Marshal Sir Stuart Peach, former Chair of the NATO Military Committee and Chief of the Defence Staff, and Elisabeth Braw, Senior Fellow at the American Enterprise Institute, columnist and author.

5 May: Business Breakfast with Annika Winsth, Chief Economist, Nordea

 

Resources

National Board of Trade Sweden

The National Board of Trade is a Swedish government agency for international trade, the EU internal market and trade policy. Its mission is to facilitate free and open trade with transparent rules as well as free movement in the EU internal market.

Find the The National Board of Trade website in English here, and an continuous update about the situation in Ukraine in Swedish here.

The Inspectorate of Strategic Products (ISP)

The Inspectorate of Strategic Products is an independent Swedish Administrative Authority. The task of the ISP amongst others is to control the exports of military equipment and dual-use products. The ISP is also responsible for a number of targeted sanctions and is the National Authority for the Chemical Weapons Convention.

Find the The ISP website in English here, and an continuous update about the situation in Ukraine in Swedish here.

The EU Sanctions Map

The EU Sanctions Map provides information on restrictive measures (sanctions) adopted by the European Union - either to transpose measures imposed by the United Nations Security Council or autonomously. The EU Sanctions Map does not provide information on national sanctions of the EU Member States or any other sanctions imposed by third states.

The aim of the EU Sanctions Map is to provide general up-to-date information on restrictive measures (sanctions) that are applicable in the EU jurisdiction. Find the map here.

European Council

The European Council is updating regularly about the measures taken in response to the crisis in Ukraine. 

Finansinspektionen

Finansinspektionen is Sweden's financial supervisory authority, and is updating continuously on the situation following the development in Ukraine.   

Swedish Customs

The Swedish Customs authority manages the flow of good into and out of Sweden. Any updates regarding Swedish Customs can be found on the Swedish Customs website.

Swedish Government/Ministry of Foreign Affairs

Information on  the measures taken by the Swedish Government can be found on the Government's website.

UK Sanctions

Information on the measures taken by the UK Government can be found on Office of Financial Sanctions Implementation HM Treasury.

US Sanctions 

Information on the measures taken by the US Government can be found on the Office of Foreign Assets Control (OFAC).

Keep in touch on social
The Swedish-British relationship is one of friendship and trade and has gone from strength to strength over the last few decades, SCC Chief Executive Peter Sandberg writes in today's City AM https://t.co/3BY3hfmBdb
Today, SCC Chief Executive Peter Sandberg spoke to @EFNTV about the UK market - its current state, upcoming opportunities and the place of Swedish businesses. Find the full interview: https://t.co/LeDhn1dHYx
Today, @JanOlsson , CEO of the #Nordics, @DeutscheBank and Chairman of the SCC, spoke at @AreBusiness2022 , covering the topic of #global #geopolitics and its effect on the future financial market: https://t.co/FWfQ6gvjtb
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