(PresidentialWire.com)- According to sources, President Vladimir Putin will continue to have talks with prominent CEOs and business owners.
They claimed that no plan has been announced, declining to be identified due to privacy concerns.
Putin would continue to interact with diverse businesses, according to Dmitry Peskov. Putin warned top officials on Monday that the West’s “economic blitzkrieg” and sanctions had failed.
On the first day of the invasion of Ukraine, Putin called a meeting of prominent business leaders. The European Union eventually used that broadcast meeting to justify sanctions, claiming they were part of Putin’s inner circle of oligarchs.
Some international trade experts had hoped that the pandemic’s supply-chain difficulties would be resolved by 2022. After Russia invaded Ukraine, supply-chain chaos re-emerged, entwined with national security, political alliances, energy sustainability, climate change, nationalism, inflation, and the boundaries of globalization.
Rem Korteweg is a senior research fellow at the Clingendael Institute. Every year he hosts a podcast with other international trade experts for BritishAmerican Business (BAB) and AIG. The focus of this year’s BAB/AIG Global Trade series is global trading in a complex and chaotic world.
Korteweg remarked that we are basically in a fairly bleak phase of international trade policy.
“I believe the events in Ukraine will frame our discussions this year,” adds Korteweg.
In addition to impacting energy markets and supply chains for everything from wheat and fertilizer to semiconductors and car components, sanctions against Russia have refocused business executives’ attention on supply-chain risk, says Korteweg.
Many manufacturers are worried about China’s ties to Russia, as is much of Africa, Asia, and Latin America’s unwillingness to join NATO’s efforts to counter Russian aggression with economic sanctions. In terms of trade policy, however, national security appears to trump the goal of a fair playing field, at least in Western Europe, says Korteweg. As a result, there is a discussion regarding whether commerce can — or should — be used to achieve national security.
Notably absent from the West’s commercial partners in Asia, Africa, Latin America, and the Middle East are democracies.
The private sector is worried about the ripple effects of trade conflicts, pandemics, the Suez Canal crises, Brexit, climate change, and now the Ukraine war.
In the middle of all this chaos, the World Trade Organization (WTO) is debated in trade circles. The BAB/AIG panelists support preserving the WTO but reforming it to meet today’s trade concerns.
Putin is responsible for pushing these issues.
