CONFLICT IN THE UKRAINE STATEMENT

Hague Fasteners condemns, in the strongest possible terms, Russia’s invasion of Ukraine. We express our solidarity and sympathy with the Ukrainian people at these times of peril and deeply regret the loss of human lives due to military action.

Hague Fasteners strongly deplore and condemn the invasion of Ukraine by Russia that is currently underway. This unprovoked attack on the territorial integrity of Ukraine is a clear violation of international rules, and it poses a real threat to peace and security in Europe and beyond.

Hague Fasteners supports the conclusions of the special meeting of the European Council of 24 February 2022. The agreed sanctions must enter into force immediately and be vehemently upheld. These sanctions sent a message to the Russian leadership that the international community will not tolerate Russian military and aggressive actions on the territory of another country.

For this military attack on Ukraine the leaders and elite of Russia and Belarus are responsible. People and business owners widely condemn these barbaric actions. Therefore, European Institutions and national governments should put forward contingency measures to protect EU citizens, enterprises and workers active in Ukraine, Russia and Belarus.

Hague Fasteners do not accept developments that threaten democracy and the functioning of the free market. We wholly support sanctions that will now impact directly or indirectly all businesses and of course these sanctions have an effect on global supply chains.

This conflict shows again the importance of a strong and united World where we all stand up to aggression affecting our brothers and sisters facing oppression in all corners of the World.

Hague Fasteners Risk Exposure & Operational Resilience

Hague Fasteners has no suppliers in Russia, Belarus nor Ukraine, the direct impact of the conflict to materials availability is minimal to zero. Our sourcing in surrounding countries both sourced directly and indirectly through our approved suppliers network totals a very limited part of our procured materials volume and can be, because of its generic nature, easily redirected.

We do, however, anticipate indirect impact which may affect supplies, particularly cost levels, for instance transportation, energy costs etc. At this point the world is dealing with increased levels of unpredictability and uncertainty, whilst continuing to deal with the effects and aftermath of a global pandemic.

We are closely monitoring the situation and will keep our news channel updated of any developing implications.

For more information on CONFLICT IN THE UKRAINE STATEMENT talk to Hague Special Fasteners Limited