The Association of European Businesses has called on both the EU and Russia to refrain from any further sanctions to protect investors.

      The group, which unites some 600 enterprises, has expressed its concern with the deteriorating trade ties between Moscow and Brussels.

      In an official letter, the Association makes it clear that restrictions will hit the EU economies and narrow the choice for Russian consumers.

      The appeal comes after the Russian government introduced a food ban from the countries that issued sanctions against Russia.

      Russia has come under intense criticism after incorporating Crimea earlier in March.

      The EU and the US slapped several rounds of sanctions, targeting Russia’s high-profile politicians, businessmen with close ties to the Kremlin as well as businesses and whole industries.