Anders Nilsson

It is probably too early to tell what the full impact will be. What we are seeing so far is that inbound transactions involving foreign investors are taking more of a “wait-and-see” approach, while many local and regional deals are continuing, albeit with some slight disruption to timelines. At the same time, advice related to supply chain matters and the impact on ongoing contractual obligations is, unsurprisingly, driving significant demand similar to what we saw during the early months of the Covid pandemic.

If disruption in the energy market were to continue at this scale, it could have wider implications for the global economy. That said, organisations with a longer presence in the region tend to demonstrate a high degree of resilience. Over the past decades, many have navigated major events such as the 2008 financial crisis, the 2014–2016 oil downturn and Covid-19, often emerging stronger.

Most clients that I speak to, who have longer experience in the region, show a strong level of trust in the government and its leadership, both in terms of physical security at an individual and private level, as well as from the perspective of enterprise owners and executives. I believe both residents and companies have found the response and preparedness from the government impressive so far.

Over time, as stability returns, organisations with a long-term commitment to the region may find opportunities to support and benefit from its recovery and development.