Impacts of the Conflict in Ukraine – Geopolitics, Uncertainties and Business (3)

With this article and the next one, we shall use the instability and conflict in Ukraine and the related impacts on businesses to continue enhancing our understanding of the way businesses and the corporate world could usefully anticipate or foresee geopolitical and political risks and uncertainties. Here we shall review two major impacts of the war in Ukraine. First we shall look at the surprising cost of sanctions related to Ukraine on businesses of sanctioning countries. Second, we shall move to the multiple impacts of the downing of Malaysian Airlines flight MH17. With the forthcoming second part, wondering how a firm could have avoided or to the least mitigated  these impacts, we shall use what we learned to identify main lessons to improve strategic foresight and […]

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The Russian Arctic, Energy and a Massive Power Shift

A major world power shift is happening in the Arctic. It is due to new massive oil and gas discoveries, combined with the effects of climate change. In effect, on 28 September 2014, Igor Sechin, CEO of Rosneft, the Russian mammoth oil company, announced the discovery of a giant oil field in the Kara Sea, north of Siberia (Zero Hedge, “Russia discovers massive Arctic oil field which maybe larger than the Gulf of Mexico“, 28 September, 2014). According to the first commentaries, this sub-sea structure called Universitetskaya, potentially, could contain reserves of oil and gas equal or superior to the Gulf of Mexico. As Igor Sechin declared, quoted by Bloomberg (Arkhipov, Chierman and Chilcote, “Russia says Arctic well drilled with Exxon Mobil […]

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An Isolated Russia? Think Again!

Since March 2014, the Russian “dispatch of troops to Crimea”, and the contested referendum in Crimea followed by its incorporation into the Russian Federation, “The West”* rhetoric is that Russia is isolated, and that the U.S. and its allies will work to further isolate it (e.g. Zeke J Miller, “Obama: U.S. Working To ‘Isolate Russia’“, Time, 3 March 2014). As the war in Eastern Ukraine seems to be perceived mainly through “Crimean lenses”, this Western policy, added to rounds of sanctions, aim at seeing an increasingly isolated Russian Federation bend to a “Western” vision of what the international order should be. The soon ex-General Secretary of Nato Rasmussen’s statement on Estonian TV according to which “Russia is globally isolated due to its actions in Ukraine” is only one example of similar comments made […]

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