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Internal Market, Industry, Entrepreneurship and SMEs
News article25 April 2022Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs1 min read

Second Extraordinary Industrial Forum meeting addresses impact of Russia's invasion of Ukraine on EU industries

This morning, the Industrial Forum gathered to discuss the impact of Russia's invasion of Ukraine on European industries and the EU economy.

The Commission convened the meeting to collect evidence on supply chain disruptions, exchange views on the impact the new geopolitical situation and share ideas on efforts needed to safeguard European industries. During the meeting, the Commission also presented recent initiatives launched to support Ukrainian businesses and citizens affected by the war as well as the results of the survey on supply chain disruptions affecting European companies.

The results of this survey show that EU companies, in particular SMEs, are facing a variety of challenges related to disruptions in the supply of raw materials, high energy costs, and delivery delays. Most of these reports come from the agri-food, construction, health, and mobility ecosystems. In addition, at least 30% of respondents face high losses of input and critical market losses at the same time. The discussions held by the Forum will feed into the ongoing work to mitigate the impact on EU businesses.