We stand with Ukraine

The days since the invasion of Ukraine by the Russian State have been terrifying for all those people under fire in the country. For the rest of us, the shock at such reckless action has been profound. We condemn the violence replacing the diplomatic dialogue that should be ongoing between all the parties involved in the conflict.

While Britain has very limited direct trade links with Russia, the conflict will inevitably have a wide, indirect economic impact.

The main economic linkage would be higher natural gas prices. Experts think a protracted conflict would keep inflation higher for longer and potentially bring forward some rate rises and with faster interest rate increases would quicken the housing market slowdown that many analysts have forecast this year as mortgage costs would increase.

If you are a UK business selling goods or services to Ukraine or Russia, you can contact the Export Support Team (ESS) by phone or online.  ESS is the first point of contact for business and trade enquiries relating to Ukraine or Russia and continues to provide support to businesses exporting to Europe. 

The ESS is a government helpline and online service where all UK businesses can get answers to practical questions about exporting. It gives access to cross-government information and support in one place.

The Department for International Trade (DIT) will continue to work with businesses and business representative groups from all sectors, in all parts of the UK, to help make the service as useful as possible for businesses.

You can access the Export Support Service online or by calling 0300 303 8955 where you will be put in touch with an adviser.