Final answer:
The conflict between Russia and Ukraine has exposed businesses in Africa and the Middle East to geopolitical, economic, and social risks, with impacts ranging from supply chain disruptions to increased energy prices and resulting societal strain.
Step-by-step explanation:
The ongoing conflict between Russia and Ukraine has presented numerous challenges and risks to businesses in Africa and the Middle East, impacting their economies and societies in various ways. One significant typology of risk is the geopolitical risk resulting from the conflict, leading to disruptions in the global supply chain due to sanctions and counter-sanctions, which have affected the availability and cost of goods, particularly energy resources. This, in turn, has led to an energy crisis, exacerbating poverty and hunger through supply chain issues. Additionally, the cyber warfare and media disinformation tactics used in the conflict pose a risk to the digital security and sovereignty of nations. Economic sanctions imposed by the West on Russia have also impacted the global economy, causing substantial shifts in trade alliances, with businesses in certain regions becoming more isolated or dependent on alternate trading partners such as China.
Aside from these geopolitical and economic risks, there are social risks associated with the conflict, including the refugee crisis that affects both origin and host countries, which strains public services and can lead to social unrest. Environmental risks also loom large, with potential crises stemming from pollution and the depletion of natural water resources, which could exacerbate regional tensions and conflicts over scarce resources. Overall, the conflict has a far-reaching impact on global security, human rights, and the division between the Global North and the Global South, with the potential to instigate or exacerbate existing problems within these areas.