Without compromise

So, how much has the business environment really changed, and what are the political, governance and integrity risks investors still need to watch?

Can Ukraine power Europe after the end of Russian gas transit? Energy expert Dr Aura Sabadus examines Ukraine's potential to become a major European energy hub while the war, as well as investment and reform challenges stand in its way. For decades, Ukraine was an essential transit route carrying Russian gas to Europe. That role ended in January 2025, but Ukraine still possesses one of Europe's largest gas-storage systems, an extensive pipeline network and growing electricity connections with neighbouring countries. In this episode of Without Compromise, Aura joins Risk Advisory's Andre Martirosyan to explore whether Ukraine could reinvent itself in Europe's energy market and whether Russian gas can eventually come back despite the ban imposed by the EU. Website: www.riskadvisory.com Dr Aura Sabadus is a leading specialist on the energy markets of Ukraine, Central and Eastern Europe and the wider Black Sea region at ICIS.

This is the first episode in a series of conversations with some of Risk Advisory's senior advisers looking at the political and geopolitical questions that matter the most to businesses today.

Director Ariana Issa sits down with Dr Tim Hames to explore what constrains Trump, what businesses should be watching as the US heads towards the midterms, and how boards can distinguish geopolitical developments that warrant a shift in strategy from those they should be prepared to navigate.

In this episode, our business intelligence and investigations experts for Russia and the FSU region review the volatile landscape of the Kyrgyz mining sector.

For decades, the Kumtor gold mine stood as the ultimate symbol of foreign investment in Central Asia. Today, following its dramatic nationalisation in 2022, it serves as a stark cautionary tale of "resource nationalism." We trace the meteoric rise of President Sadyr Japarov—from a prison cell to the presidency—and explore how his populist campaign turned a multi-billion dollar mine into a personal and political score to be settled.

In this special episode for International Women's Day on Sunday, 8th March, we spoke with Rita Mitchell, Co-Chair of the London Chapter of the Women in White Collar Defense Association (WWCDA).

Rita shares her perspective on this year's theme, 'Give to Gain,' and explores why the WWCDA has been so successful in empowering women in the white-collar space. We dive into how the association's commitment to mentorship is fostering a culture of support, advancement, and collective success.

On 12 February 2026, Bangladesh faces its most consequential election in decades. In this episode, we analyse the first national vote since the 2024 "Monsoon Revolution" and the ouster of the Awami League. We take a closer look at whether Bangladesh is truly securing a "new beginning" or risking a return to the cycles of the past.

In our debut episode of 'Without compromise', we unpack one of the most significant developments shaping Armenia's political and investment landscape: the government's move to nationalise the country's electricity distribution monopoly, the Electric Networks of Armenia.

This episode explores the deepening rift between Armenia's government and the influential Armenian Apostolic Church, the criminal proceedings against Karapetyan, the looming 2026 elections, and the geopolitical tug-of-war between Russia and the West. With insights from Dr. Ara Marjanyan, Armenia's national energy expert at the United Nations Development Programme, we examine whether this nationalisation signals a broader policy shift, or simply an isolated clash at the intersection of politics, energy security, and foreign investment.