Due Diligence

Sanctions and Secondary Risks: lessons from Russia, Iran and China

Originally aimed at punishing specific nations, sanctions have evolved into a tool for influencing global behaviour, particularly in high-stakes countries like Russia, China and Iran. With the increasing complications of international trade and finance, sanctions have, for some time, not been limited to direct penalties on the targeted countries; they now extend to businesses, their [...]

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The Rise of Economic Nationalism: how protectionist policies are ending globalism

Global trade’s share of economic output has decreased, while industrial policies focused on bolstering domestic industries are increasing, especially in wealthier countries. This change has since last year been dubbed "slowbalisation", signalling a slowdown in globalisation. However, rather than indicating a complete reversal, this shift reflects a growing emphasis on the protection of domestic industries,

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Western Sahara: unresolved claims and emerging risks

The protracted dispute over Western Sahara between Morocco and the Polisario Front comes with challenges for multinational corporations in North Africa. Despite international efforts, the conflict remains unresolved, with sporadic fighting and a stalled peace process, raising fears of renewed violence. Recent developments have made matters worse. The United Nations Security Council (UNSC) extended the

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Savings and Sanctions: Indonesia lured by Russian oil

With its recent entry into BRICS offering Indonesia closer ties with Russia, the potential import of discounted Russian oil presents a double-edged sword with both an opportunity and a conundrum. The appeal is clear: Energy Minister, Bahlil Lahadalia, and National Economic Council Chair, Luhut Binsar Pandjaitan, have calculated savings of up to US$22 per barrel,

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What drives FDI in the Asia Pacific Region?

The Asia Pacific region is witnessing economic growth despite the ongoing tensions between China and the smaller Asian nations in the South China Sea. Countries such as Cambodia, Vietnam, the Philippines and Singapore are experiencing a surge in foreign direct investment (FDI) from nations including Australia, Germany, Spain and the US. Investment is particularly noticeable

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Sudan on the brink: a civil war and those profiting

The brutal conflict between the Sudanese Armed Forces (SAF) and the Rapid Support Forces (RSF) has plunged Sudan deep into humanitarian crisis, marked by staggering loss of life and mass displacement. Death tolls are now nearing 150,000, and millions have been forced from their homes. The scale of suffering reported is immense. International involvement is

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Hybrid Warfare – the coordinated efforts of Russia and China against the West

Russia and China are conducting hybrid warfare campaigns against Western nations, leveraging a blend of conventional military assets and non-military tactics, including cyberattacks, disinformation, economic pressure, and exploitation of political and legal systems. These efforts aim to destabilise and weaken adversaries from within. Russia has been intensifying its sabotage campaigns across the EU, reflecting a

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Ethiopia’s Fractured State: The fragile path forward

While the world’s media has largely focused on Ethiopia’s Tigray conflict, unrest in Oromia (Central Ethiopia) and other regions reveals the scale of volatility within the country. Oromia, Ethiopia's largest region, has been the scene of ethnic tensions, driven by longstanding grievances over political sidelining, unequal resource allocation and land rights. The Oromo Liberation Army

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The South China Sea: Is there a compromise?

The South China Sea remains a focal point of strategic and territorial dispute, principally involving China and neighbouring ASEAN member countries like the Philippines, Vietnam, Malaysia and Indonesia. This region, crucial for international shipping and its wealth of natural resources, witnesses frequent disputes that have the potential to escalate into greater regional conflict. China's assertive

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Nagorno-Karabakh has fallen: Russia’s silent role

The Nagorno-Karabakh conflict, a longstanding territorial dispute between Armenia and Azerbaijan, has escalated exponentially over years. In September 2023, Azerbaijan launched a military offensive against the self-declared Republic of Artsakh in Nagorno-Karabakh, leading to a ceasefire agreement brokered by Russian peacekeepers. This offensive resulted in the profound dissolution of the Artsakh Defense Army and the

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