The article begins with a perspective on the short- and midterm disruptions and then frame scenarios for the potential impact on livelihoods in Europe, in the belief that some guidelines to bound uncertainty are better than none at all. As conditions change, we will adjust. We conclude with some reflections on implications for business leaders as they navigate yet another crisis.

Cyber security – even in a time of global unrest – remains a balance of different risks. Ian Levy, the NCSC's Technical Director, explains why.

Russian state-sponsored actors have demonstrated the capability and willingness to target public and private infrastructure in neighbouring states and beyond. And countless cyber criminals and other opportunists will seek to exploit the fog of war to launch malicious attacks for their own monetary gain. Governments and companies need to be vigilant in tightening their cybersecurity protocols and heightening defences to counter these threats.

[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.