Business groups and professional organizations also expressed support for sanctions levied against Russia

Associations are blasting Russia's invasion of Ukraine while warning about potential domestic side effects, such as an increased risk of cyberattacks and higher fuel prices.

National Association of Federally-Insured Credit Unions CEO Dan Berger was among the association leaders who issued statements in recent days condemning Russia's decision to attack neighboring Ukraine. Such aggression "is not only an attack on innocent lives and a clear violation of the country's sovereignty, but a direct threat to democracy across the globe," he said.

"NAFCU stands with the Ukrainian American Credit Union Association—the 12 Ukrainian American credit unions and their more than 100,000 members—who have family, friends, and colleagues in their home country. With over $4 billion in combined assets, these credit unions play an important role in the American economy," Berger said. "We join them in support of the Ukrainian people and our U.S. leaders and allies as they move to swiftly hold Russia accountable."

Backing sanctions

The U.S. and European Union have announced a number of economic sanctions to be levied against Russia, including restrictions on banking, energy purchases and air travel. Gary Shapiro, CEO of the Consumer Technology Association, said in a statement that his group fully supports sanctions and will ask its members to comply with new export controls.

"The invasion of Ukraine is a tragic and illegal assault on the people and independent nation of Ukraine and an attack on democracy," he said. "We call on Russia to stop its attack and end the needless loss of life and human suffering."

Computer & Communications Industry Association President Matt Schruers noted many technology companies have already suspended products and services to Russia in response to the invasion. "CCIA fully supports the measures adopted by the Administration in response."

"Further, CCIA condemns the Russian government's ongoing censorship of digital communications services in an effort to obscure its barbarity from its own people," he said in a statement. "Communications services are critical to civilians in times of crisis, and restricting citizens' access to communications tools is the hallmark of authoritarianism."

The Semiconductor Industry Association said it is evaluating the sanctions but noted Russia counts for only 0.1% of global chip purchases: "In addition, the semiconductor industry has a diverse set of suppliers of key materials and gases, so we do not believe there are immediate supply disruption risks related to Russia and Ukraine."

Domestic concerns

While quick to condemn the invasion, some groups also warned Russia's actions could lead to an increased risk of cyberattacks in the U.S. The Credit Union National Association and American Hospital Association encouraged members to be more vigilant about cybersecurity after the U.S. Department of Homeland Security warned the invasion could cause a spike in Russian-sponsored cyber threats.

Because Russia is a major oil producer, the economic sanctions are expected to drive up fuel prices. In a statement, the American Petroleum Institute joined other associations in criticizing the attack while adding its members would work with policymakers to minimize impacts on consumers.

"API condemns Russia's invasion into Ukraine, and American natural gas and oil producers have a critical role to play in supporting our European allies with access to a stable supply of reliable and affordable energy," API CEO Mike Sommers said.

While Americans may be hit with the invasion's economic fallout, some associations focused on the unfolding humanitarian crisis by expressing solidarity with Ukrainian colleagues.

"We stand with (the International Council of Museums) and the global cultural heritage community in condemning the violation of Ukraine's territorial integrity and sovereignty," the American Alliance of Museums said in a tweet. "Risks facing civilians—including museum professionals—and threats to cultural heritage because of this armed conflict are deeply alarming."