The Irish Business and Employers Confederation (IBEC) has called for an immediate de-escalation of the fuel protest taking place across the country.

IBEC has said that the protest is already affecting supply chains due to significant cost and operational disruption nationwide.

IBEC has reported that its members across many sectors including food, medicines and construction are all disclosing increasing risks to production processes over the next 24 to 48 hours unless the protests are stopped at essential infrastructure such as ports, industrial zones and transport hubs, with reports of some sites already having to cease production.

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Major health and safety risks can also be seen due to restricted access to several large industrial areas, it said, especially where ease of entry is essential in emergency situations.

Some employers are reporting up to 50% forced absenteeism rates due to the protest, IBEC has said.

Costs to businesses

IBEC director of lobbying and influence Fergal O’Brien stated: “The protests are now presenting material damage and costs to businesses across multiple sectors of the economy.

"Supply chains are being hit hard due to the port and other blockades and high-value production process in the food, pharma and construction sector are all at imminent risk.

“This will have immediate knock-on costs and disruption for the agriculture and construction sectors, in particular, and coupled with wider costs across the economy to the retail and hospitality sectors, it will lead to significant economic costs which will ultimately undermine the State’s revenue base and Government’s ability to support those most impacted by the global energy crisis.

“The protests are counterproductive and damaging to businesses and the economy, including our investment reputation.

“We fully understand the cost pressures facing individuals and businesses as a result of the ongoing volatility in the Middle East. IBEC, as the largest representative body for businesses, continues to advocate constructively with Government to discuss further ways to alleviate these pressures until costs have stabilised.”