Since Russia’s brutal invasion of Ukraine in February, companies with a history of operating in complex and challenging markets have been weighing the difficult realities of their responsibilities to the people they serve. Those that supply essential goods and services, such as internet connectivity, pharmaceuticals, food, and consumer products have confronted difficult choices. The war has highlighted which companies must choose between providing essential services and managing the reputational and regulatory risks of operating as usual in Russia.
The risks that telecom companies operate in are evident. This month, telecommunications company VEON – the owner of Ukraine’s largest mobile company, Kyivstar, and Russia’s third-largest mobile company, Beeline – announced it would start selling its operations in Russia. This is a significant announcement because Beeline is a company providing essential internet connectivity service to the Russian population and because it represents a noticeable turning point.
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