Global issues, Local Impacts—How the Ukrainian Crisis Could Impact Your Organization

The tragic situation in the Ukraine has been on the minds of many over recent weeks.

But beyond posting “We Stand With Ukraine” messages on social media, we feel it’s necessary for organizations to think about the very direct impacts this crisis can have on their business.

Four things come immediately to mind.

First, understand the impact that U.S. sanctions could have on your organization’s membership and vendors. If you’re not regularly checking your membership and vendor list against the Office of Foreign Asset Control database, you should be. Organizations that are based in Russia or have significant investments from Specific Designated Nationals may be subject to sanctions. In today’s rapidly changing circumstances, we’re monitoring these lists daily, both for our company and on behalf of our clients.

Second, take a fresh look at your organization’s cybersecurity policies and procedures. Experts are predicting an increase in cyber attacks on U.S. based organizations in response to the sanctions applied to Russia. This is a great time to reeducate your staff and members about phishing and other types of attacks, implement two-factor authentication wherever possible and ensure your disaster recovery policies are in place.

Third, associations and consortia should keep in mind that the situation in the Ukraine – and its rippling effects – may restrict the bandwidth and availability of some members. After all, there have been sudden and significant changes across the global economy as a result of the conflict, and that has caused many companies to enact significant strategic and operational pivots. We’ve already seen participation challenges across some of our security and FinTech oriented groups, and that may extend to other industries as the crisis continues.

Finally, for those that are entering a “post COVID” period of travel, be sure to take a look at flight plans. Airspace closures aren’t just about destinations—they’re also about the routes airlines take to get there. Ask anyone who has tried to fly from Italy or Spain to London whenever French air traffic controllers are on strike. “Taking the long way” can result in delays, missed connections and more. As groups finally start to reconvene for meetings around the world, meeting planners should be mindful that getting there may not be a smooth undertaking for many attendees.

Bottom line, at Virtual, Inc., we all stand with Ukraine. But we’re also committed to our clients to make sure that this latest conflict doesn’t derail their missions.