Business Weekly

On Business Weekly this week, as the fighting in parts of Ukraine intensified, a suite of sanctions has been levied on Russia, cutting off the country from the inter-bank messaging system Swift and restricting access to the foreign reserves Russia holds in the West’s central banks. Many large international companies are scaling down their businesses in Russia, including the oil giants BP and Shell. The global shipping giant Maersk is stopping its ships from docking at Russian ports. Chris Weafer, chief executive of Macro Advisory and a 24-year resident of Moscow tells us what life is like for ordinary Russians. Meanwhile, author and journalist Oliver Bullough tell us how badly the oligarchs will be hit by the sanctions. We also look at the impact of the conflict on Russian and Ukrainian grain exports, particularly for countries in Africa and Southeast Asia that already suffer from food insecurity. And we hear about the parallel cyberwar that’s taking place to the one on the ground. Hundreds of thousands of hackers are thought to have signed up to an online army to target Russian banks and institutions. Plus, we analyse Russia’s relationship with Africa. Steven Gruzd from the South African Institute of International Affairs in Johannesburg tells us about the extent of Russian military and economic influence in Africa, and how that influence goes some way to explain why so many countries in the region did not to lend their support to the UN draft resolution condemning Russia’s aggression Ukraine. Business Weekly is presented by Matthew Davies and produced by Philippa Goodrich.