The Association of Capital Goods Manufacturers denies doing business with Russian entities since the imposition of sanctions

In view of the statements made in the Congress of Deputies by the President of Ukraine, Volodimir Zelenski, whom we deeply respect and admire, and whom we cordially greet, we issue this statement for what we consider to be misinformation:

We categorically deny that the National Association of Capital Goods Manufacturers is doing business of any kind with Russian companies or agencies since the international sanctions were put in place by the International Community.

Among the objectives of the Association is the promotion of projects in the different markets of the world that involve an increase of the exports of the member companies of the Association or of other Spanish companies that can accompany the supply contracts. In this sense, and since the Russian market is an open and authorised market, we have been in contact with tenders for international contracts in that country.

Since 2014, and following the annexation of Crimea by the Russian Federation, SERCOBE's activity in Russia has been greatly reduced, and has focused only on sectors not sanctioned by the International Community. In recent years, SERCOBE has participated in international tenders in the Russian market, as well as in other markets in the region, all of them financed by multilateral agencies and in accordance with international legislation.

SERCOBE strictly complies with international legality, being one of the main references for the Spanish administration in all regulatory issues and international standards.

The capital goods sector (goods made to manufacture) in Spain had a turnover of 58 billion euros in 2020. Almost 70% of the business takes place outside our borders, making it the country's leading export sector. This is reflected in the image of excellence of our companies, which are highly valued abroad.