War in Europe
Conflict in Ukraine: the fallout Two months on from the start of the invasion, its impact and that of the sanctions and other actions are now emerging from the fog of war. Phil Savage rounds up the views of commentators from key
disciplines to throw some light on the situation. I n our January edition we reported that Ukraine was on the cusp of an exciting period of liberalisation. The country, already a leading force in IT was booming much of the growth with a link to gaming, At the turn of the year Parimatch and Cosmolot operator Spaceiks had already secured licences. Industry giants including Entain, through its acquisition of Enlabs, were also positioning themselves for entry. Now, Ukraine’s prospects have been put back a generation. Vladimir Putin’s decision to invade the country has sent convulsions throughout Europe and around the world. The possibility of a major war in Europe, something not seen for 60 years, the consequent the displacement of millions and the disruption to an established order of trade and business is now a grim reality. Close proximity to the border of NATO brings with it the high risk of contagion as well as highlighting the reluctance of the world’s largest military alliance to get drawn into direct action. The response has thus been limited to economic and other sanctions and the
provision of non-lethal weapons to Ukrainian forces. Two months on from the start of the invasion, its impact and that of the sanctions and other actions are now emerging from the fog of war. General and targeted sanctions Once the Winter Olympics ended on February 21st the threat of an invasion of Ukraine by Putin’s Russia ramped up dramatically. The imminent threat of war saw countries around the world introduce, perhaps belatedly, targeted sanctions against Russian banks and individuals. If these were designed to be a deterrent, they failed as the conflict started with attacks on Ukraine’s major cities three days later. With the onset of war, the sanctions regime was quickly and comprehensively tightened with the US, Europe, G7 countries and others united in condemnation of the invasion of a sovereign state. A parallel approach has been followed, one which bears down on the freedoms of the Russian state, its businesses, its communications and sports activities and
IMGL Magazine • April 2022 • 7
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