On February 24, 2022, without provocation, Russian forces initiated a comprehensive invasion of Ukraine. This egregious step is a blatant violation of international law and the rules-based international order. The attacks have caused widespread devastation of Ukrainian infrastructure and property, and unnecessary deaths of Ukrainians, particularly civilians.
These actions are a continuation and acceleration of the violent steps taken by Russia since early 2014 to undermine Ukrainian security and sovereignty, and have rendered the Minsk Agreements moot.
The European Union (EU) imposed sanctions on Russia in response to the Russian invasion of Ukraine. The EU is also imposing sanctions on Belarus for its involvement in the invasion.
Aims of the sanctions against Russia and Belarus
With these sanctions the European Union seeks to:
- make it difficult for Russia to finance the war in Ukraine;
- show the individuals responsible (such as the Russian political elite) the invasion of Ukraine has economic and political consequences;
- make Belarus pay a heavy price for its involvement.
SCCN has therefore decided to boycot Russian and Belarusian businesses and investors.