Business morals: Government Relations (GR) approach for companies who decided to stay on the isolated market

In light of the escalating war, regional and international companies are leaving the Russian market due to incompatibility of morals and principles, safety issues, and in some cases, compliance with the sanctions imposed on the Russian Federation.

Russia itself has banned global companies from its internal market. Significantly, Russia’s economy is not 100% self-supporting and its citizens are highly dependent on global corporations, especially pharmaceutical and technological companies. Given this, there are businesses that must stay or are willing to stay in the Russian market in order to continue supporting the basic needs of Russian customers.

In this panel, speakers will discuss whether the GR approach towards these businesses should change and if the interests of Russian citizens should be taken into account while drafting policy and regulatory strategy. The panel will discuss:

• Consequences of staying on the Russian market

• Global security versus consumer needs

• GR strategies in countries affected by the war

Andy Hunder President of the American Chamber of Commerce in Ukraine

Oleksii Makeiev Ambassador, Special Envoy on Sanctions at the Ministry of Foreign Affairs of Ukraine

Yuriy Sak Partner, Director of Special Projects at CFC Big Ideas

Vladyslav Rashkovan Alternate Executive Director at IMF