War in Ukraine: protracted phase, new challenges and ways to adapt for business

20/ 05/ 2024

Last week, the European Business Association held a discussion on the situation at the front and further possible scenarios “Frontline Updates and Impact on Doing Business” with the participation of Andriy Zahorodniuk, Chairman of the Board of the Center for Defense Strategies, former Minister of Defense of Ukraine, Hryhoriy Perepelitsa, Director of the Institute of Foreign Policy Studies, and Liudmyla Nemyria, producer and host of the Ukrlife.tv YouTube channel. The experts noted that russia does not have the resources for a large-scale offensive. Russian actions are aimed at deterring Ukrainian forces and creating a negotiating position. Russia seeks to negotiate in order to secure its gains and relieve pressure from the West. However, negotiations can lead to a temporary freeze in the war, but not to its final end. Any compromise must be based on the principles of justice and international law. Western assistance plays an important role in the war. Its volumes are growing, but, according to experts, Ukraine lacks aviation. Putin is probably seeking a global escalation of the conflict, in particular, he wants to challenge the world order and return russia to the status of a world power. At the same time, Ukraine has every chance of winning if it is united and decisive in its actions. It is crucial for Ukraine to maintain its defense on the eastern and southern fronts, to continue strengthening the countrys defense capabilities, which includes modernizing the army, purchasing modern weapons and training personnel. In addition, Ukraine needs to actively cooperate with its partners in the West to obtain the necessary assistance and strengthen sanctions against russia and develop its economy to become stronger and more resilient to external threats. Businesses are advised to be flexible and adaptive to changing conditions, which is what companies operating in the market have been doing for almost 2.5 years. It is important to diversify risks and look for new opportunities in the European markets, as well as cooperate with the government and international organizations. The world must continue to support Ukraine, and we all - the government, business, and citizens - must maintain the unity of Ukrainian society. This is important to counter russian propaganda and maintain the morale of the people. We thank the experts for the current situation, forecasts of its impact on Ukrainian business and ways to adapt to new challenges.

The experts noted that russia does not have the resources for a large-scale offensive. Russian actions are aimed at deterring Ukrainian forces and creating a negotiating position. Russia seeks to negotiate in order to secure its gains and relieve pressure from the West. However, negotiations can lead to a temporary freeze in the war, but not to its final end. Any compromise must be based on the principles of justice and international law.

Western assistance plays an important role in the war. Its volumes are growing, but, according to experts, Ukraine lacks aviation. Putin is probably seeking a global escalation of the conflict, in particular, he wants to challenge the world order and return russia to the status of a world power.

At the same time, Ukraine has every chance of winning if it is united and decisive in its actions. It is crucial for Ukraine to maintain its defense on the eastern and southern fronts, to continue strengthening the country’s defense capabilities, which includes modernizing the army, purchasing modern weapons and training personnel. In addition, Ukraine needs to actively cooperate with its partners in the West to obtain the necessary assistance and strengthen sanctions against russia and develop its economy to become stronger and more resilient to external threats.

Businesses are advised to be flexible and adaptive to changing conditions, which is what companies operating in the market have been doing for almost 2.5 years. It is important to diversify risks and look for new opportunities in the European markets, as well as cooperate with the government and international organizations.

The world must continue to support Ukraine, and we all – the government, business, and citizens – must maintain the unity of Ukrainian society. This is important to counter russian propaganda and maintain the morale of the people.

We thank the experts for the current situation, forecasts of its impact on Ukrainian business and ways to adapt to new challenges.