Impact of sanctions on CEE businesses: Loss of the Russian Market

Despite being one of the largest markets on the European continent, Russia is becoming economically isolated from the rest of the world due to its hostile actions and crimes of aggression against Ukraine. Large corporations worldwide are refusing to provide services and goods on Russian territory; as a result, the depreciation of the Russian ruble can already be observed.

Sanctions imposed on the Russian Federation are affecting a number of Central European (CEE) businesses, causing them to either abandon or drastically reduce the provision of services on the market. This means a mass reduction in staff, profit, and customers.

In this panel, speakers will talk about the impact of Russian sanctions on CEE businesses, their future plans, and how they are giving up certain business interests for the sake of their values, morals, and humanity. The panel will discuss:

• How did the sanctions imposed on Russia affect the business environment?
  
• What will be respective organizations’ responseto corporations that decided to stay in the Russian Market?
  
• How did the investment agency have to adapt to the situation?
  

Mladen Grgić Acting Director at Montenegrin Investment Agency

Laura Ocagova Deputy Director in charge of investments at Investment and Development Agency of Latvia

Joonas Vänto Director of Invest Estonia

Andriy Boytsun Corporate governance advisor, member of the McFaul–Yermak International Expert Group on Sanctions