Guidance and recommendations for dealing with the Russia-Ukraine war Guidance and recommendations for dealing with the Russia-Ukraine war Guidance and recommendations for dealing with the Russia-Ukraine war

The war in Ukraine is a humanitarian crisis we have been constantly exposed to. Meanwhile, the economic consequences are becoming increasingly noticeable and perceptible. To illustrate, German companies have been significantly affected by the sanctions and countersanctions been imposed, considerable declines in sales throughout the Russian territory, supply shortages for essential materials and primary products, as well as substantial increase in price. According to the latest forecasts, the situation might further escalate if the extensive trade barriers were to impose on Russian crude oil and natural gas. Further possible crises that could be triggered by the lockdowns in China, for example, have not yet been considered.

Difficulties with high diversity and complexity, along with an ever-changing environment, belong to the daily challenges companies must tackle. A valuable lesson the pandemic has given is, crises can be overcome quickly by regularly conducting scenario analysis in- and outside the company, while constantly developing, optimizing und implementing suitable strategies.

We will keep monitoring and analyzing the situation in Ukraine and Russia to offer you the latest development. In the meantime, experienced professionals from various branches are willing to answer any inquiries.

In our experience, one year after the start of the war, these are the issues that companies are dealing with as a matter of priority:

• Contact: Anne-Kathrin Gillig

• Contact: Wilhelm Dolle

• Contact: Michael Salcher

• Contact: Dorothee Ebert

• Contact: Andreas Glunz

We strongly condemn the Russian government's ongoing war of aggression in Ukraine. It is a blatant violation of international law and an attack on freedom and democracy in Europe. We stand by the people on the ground who are affected by the war and the associated humanitarian catastrophe.

We are committed to our corporate responsibility and values. We work closely with our colleagues from Ukraine and Eastern Europe to help the people on the ground in the best possible way. Shortly after the war broke out, we also decided as an international KPMG organisation that our member firms in Russia and Belarus would leave the KPMG network.