On the morning of February 24, Russia launched a military operation with the use of artillery, tanks and missiles along the southern, northern and eastern Ukrainian border. Targets included major airports, harbors and military bases. Military strike is supported with cyber warfare operations aimed at Ukrainian governmental and communication infrastructure.

The airspace over Ukraine was closed, and President Volodymyr Zelensky imposed martial law throughout the country. As Poland borders with Ukraine, a flow of refugees is expected, of unknown scale as of now.

Following the developments, the European Commission has imposed additional sanctions on Russia, restricting its access to the EU financial markets as well as to technology. Further sanctions are expected from the US government and the EU Council.

Following high-level diplomatic co-operation, Poland’s security, as a NATO member, has been strengthened by additional presence of US troops and military equipment. Similarly, Baltic states will also receive substantial US military aid.

Business operations in Poland continue unabated and undisrupted. The Warsaw Stock Exchange WIG index has slid by 7,6 % (as of 10 am) and the Polish zloty has weakened against all major western currencies - by 0.46% against USD, by 0.26% against GBP and by 0.14% against EUR.