In Estonia, we also feel the pressure of having Russia as a big neighbour and the border we share, but we must rely on Estonia’s membership of EU and NATO. And we have already seen an increase in NATO troops arriving and more to follow. Very soon 200 new Danish soldiers will arrive in Tapa – reassuring the security of being a NATO member.
A shift and strong package of sanctions has been put in place by the EU, USA and other bigger economies, but of course these will take time to have effect, and they will not stop the war here and now. These sanctions will not only affect Russia, but also all EU countries, including Estonia. With the sanctions, a lot for unanswered questions will come: what about the Russian daughter companies of big international companies with production sites in Russia, such as John-Deere, VW, Mercedes etc. – are they to close down?
One thing is for sure, the world has changed, and the next days, weeks, months will show how we will adapt to the new world order. Until then, we can do our best to help Ukraine via all the different channels that have opened, either by picking up refugees, sending money, food and medical supplies etc.
It was truly a warm feeling to see the biggest demonstration in recent time take place in Tallinn for the support of Ukraine.
On a different subject, I am delighted to see that Vestas and Enefit Wind Purtse (Enefit Green) have signed a deal for starting a windmill park in Ida-Virumaa. This is another important step for Estonia to head down the green energy road.
We are currently working on several events: FICE event about Green Energy on 28 March, AGM and Danish Easter Dinner on 13 April, Economic Outlook at the Estonian Bank as well as Nordic Leadership event in May, and many others – more information will follow soon.
Looking forward to seeing you all again soon!
Chairman of the Council