The war in Ukraine has caused sanctions on Russia which have a great impact not only on the Russian economy but the whole world. Although geographically thousands of kilometres away, these impacts are also felt in Malaysia. Chambers of commerce monitor these impacts and in today's episode, we talk with MGCC's Executive Director Daniel Benbeck about these economic consequences here in Malaysia.  

#Ukraine #Malaysia #Palmoil #Russiatrade

To support Ukraine, our colleagues from the AHK Ukraine ask for donations to:

Johanniter-Unfall-Hilfe e.V.,
BIC: BFSWDE33XXX
IBAN: DE94 3702 0500 0433 0433 00
Bank für Sozialwirtschaft
Refference: SupportUkraine

More information here: https://www.johanniter.de/spenden-stiften/ukraine/?utm_campaign=ukraine&utm_content=auslandshilfe&utm_medium=redirect&utm_source=other

Follow the link to also listen to the German ambassador to Malaysia talking about the Ukraine conflict on BFM Radio.
 https://www.bfm.my/podcast/evening-edition/evening-edition/france-and-germanys-response-to-ukraine-russia-conflict  

Here are the questions in the Podcast with time code:

Germany along with many other western countries has imposed sanctions on Russia for their invasion of Ukraine. Can you summarise some of the most important ones? 01:55

1.  So far this is a European conflict but did Malaysia and other ASEAN countries also impose sanctions on Russia? 05:07
2.  From Malaysia, Russia is far away. At first glance, there is not much that comes to mind that Russia might export to Malaysia. How are the Russian-Malaysian trade relations? 07:15
3.  As a result of the sanctions, Oil and Gas prices are soaring. Malaysia itself is an oil and gas producing nation. Is the Malaysian Oil and Gas industry now profiting from the sanctions? 10:42
4.  Russia, Ukraine and Malaysia are all exporters of certain commodities. Have you noticed any changes here? 14:03
5.  Rising inflation has been a major topic in the US, Germany and other countries even before the war. How is the situation in Malaysia? 19:08
6.  It is likely that the sanction on Russia will last long which will cause German investment to leave Russia. Is Southeast Asia an alternative for those investments? 21:03
7.  Are there any other economic effects you’ve noticed in Malaysia so far since the war in Ukraine started? 23:56
8. MGCC is part of the global AHK network of German chambers of commerce abroad. There are also German chambers of commerce in the Ukraine and Russia. Have you been in touch with your colleagues there? 26:01