Some of the immediate global effects of the Russia-Ukraine crisis are within commodity supply chains, particularly related to food and energy, with potentially long-lasting social and institutional implications.

[Free to read upon sharing contact details] As the build-up and response to Russia’s invasion of Ukraine has clearly demonstrated, the US, EU, UK, and many other countries use sanctions as both a reactive and proactive tool in foreign policy. Whether used as deterrent to specific actions or in response to major geopolitical actions, the sanctions themselves have significant and widespread implications for business that increase legal, operational and reputational risks to business across the globe.

The survey results paint a picture of globalised companies surprised to be caught between geopolitical competitors. In the 2020 survey, the ratio of respondents who declared themselves “concerned” about political risk in the Asia-Pacific region to those who expressed no concern was well below 2:1. In this year’s survey, that ratio nearly reached 20:1.

The crisis in Ukraine is having a major impact on companies with suppliers, distributors, customers and employees in Ukraine, Russia and Belarus. Some of the ramifications are obvious, while others are taking place "behind the scenes”. Here is a guide to help business leaders formulate a proactive strategy, to protect their business.