Everyone’s glued to various information channels to learn as much as possible about the crisis in Ukraine and global sanctions against Russia. Our resilience team, headed by Ilya Umanskiy, can help make sense of events and outline ways to respond. We can also help address many other questions your clients may be asking regarding potential ramifications of this crisis for Asia and the rest of the world.
As of 28 Feb, Russia is a different country heading into what may be its worst economic downfall. There may be further ramifications based on the following:
- Russian army’s struggles and likely embellished capabilities have now been on display for several days. This may spark a wave of new challenges to its domain – economically, geographically, politically, and socially. Japan has already re-energized their campaign for the return of the Kuril island chain.
- Russia’s ambitions in Asia will be severely affected despite their reliance on good relationships with China and India. In fact, sources in Russia are reporting that Chinese oil traders are already cancelling contracts for oil purchases because of expected sanctions and payment risks. Political and business leaders are scrambling to assess other outcomes for Russia’s pivot to Asia in light of the current turn of events.
- The pull-out of western companies from Russia has already begun with BP and Shell announcing their exits.
- Politics is in the driving seat, leaving other sectors to scramble to implement complex policies and sanctions.
More about Ilya here: https://www.linkedin.com/in/ilya-umanskiy-grcp-ramcap-ma-8918ab6/
Please let us know if we can help you or your clients.