MOSCOW, July 30. /ITAR-TASS/. New sanctions will harm not only the Russian economy but also EU and Ukraine economic growth, goes the Association of European Business (AEB) press release on Wednesday.

“Considering the volume of the trade between Russia and the EU, and Russia and the Ukraine, the AEB expects that these new sanctions will not only hurt the Russian economy, but also will restrict growth in both the EU and the Ukraine,” says the release.

The organization said it “deeply regrets the new sanctions” and urged all the parties involved in the Ukrainian conflict to make de-escalation efforts.

The AEB “calls on the Heads of States and Governments of the EU, Russia and the Ukraine to organize as quickly as possible an International Conference, with all the parties involved, to put a stop to the de facto civil war in Ukraine and find a common, mutually acceptable, solution in the spirit of peace and conciliation”.

On Tuesday, the EU adopted new economic sanctions against the Russian financial, oil and military sectors. The US also announced sectoral sanctions.

The AEB had earlier expressed disapproval of sanctions speaking about its “strong disagreement” with prohibitive measures against several Russian companies and banks.

The AEB is a non-commercial association of enterprises and entrepreneurs from EU countries and the European Free Trade Association countries, which have business activities with and/or in Russia.