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Business Arena 12.09

On Monday’s episode, our host Sacha Fahrbach kicked off the show with our main stories, which focused on de-globalisation, the aftermath of war, and energy cooperation. Another main headline we looked at was the green transition issue in a discussion with Polish and Danish Foreign Ministers on Bornholm island, Denmark.

While it is impossible to predict the outcome of the war in Ukraine in the short term, we can more confidently assess the medium-term consequences. The Russian invasion of Ukraine and the unprecedented sanctions with which the West has responded looks to be a watershed in the trajectory of the global economy.

The consequences of the economic isolation of Russia will long outlive the duration of the war and sanctions. Globalisation however will never fully recover from this blow.

To shed more light on the issue we were joined by Marek Dietl, CEO of The Warsaw Stock Exchange.

What’s more…

-Visa Inc, the world’s largest payments processor, will implement a new merchant category code for US gun retailers, identifying the transactions of firearms stores.

-Sonnedix, the global solar independent power producer, has issued notice to proceed for Sonnedix Ciechanowiec, a 2MW solar PV plant from its development portfolio in Poland.

-VNG, one of Germany’s biggest importers of Russian natural gas, on Friday asked the government for aid to stay afloat, the latest European energy firm to seek state support as a result of Moscow’s supply cuts.

-Two-day consultations between the foreign ministers of Denmark and Poland, Jeppe Kofod and Zbigniew Rau started on Monday. Among the topics are defence and security cooperation, the situation in Ukraine, and bilateral relations including energy cooperation and the green transition.

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