BREAKING NEWS: Russia Invades Ukraine, Begins European War

News outlets now scrambling to report moment to moment as Russian bombs fall on Ukrainian military bases, and thousands of Ukrainians flee the city, the impact of War on US Trade is imminent. Read on to discover what this could mean for your business:

Late yesterday night, Russian military forces began their invasion of Ukrainian territory - marking the beginning of a war in Europe. Thousands have begun to flood the city's airport, and roads in an attempt to leave the newly war-torn territory. Numbers of casualties are climbing as reports pour in from media outlets. 

The news is disturbing to US citizens as Russia is a well-known nuclear force. Even without the threat of nuclear war making its way to US shores, the news of war in Europe means a lot for those trading with Russia, or any of its allies as sanctions have been handed down that affect those directly and indirectly involved with the Kremlin, and have halted American and European trade with Russia. 

If your business operates any import or export business internationally, even if not in direct trade with Russia - this could affect your business operations. This change will immediately be felt if the price of import or export is affected by petroleum, or stock prices as both have skyrocketed in anticipation of a global war.

So, how can you protect your business interests during this uncertain and precarious time? The most important factor will be determining what business partnerships and distribution chains will be affected by the unrest in Europe. As soon as possible, you should discern who and what is affected by the war, and begin to steadily replace any streams of trade affiliated with the conflict. This will eliminate some of the collateral damage that affects your business going forward, regardless of the outcome. 

It will also be important that in the event of any political unrest halting or delaying your business routes, you have alternative means of trade to prevent any shortages, or tariffs from halting your business operations. It will also become increasingly more important as this upheaval continues to have consistent legal counsel.

If you have not already, consider retaining TEIL Firms, or another trusted business attorney to assist you in managing the developments in Russia and their potential effects on your business. If you are not already working with a business attorney on retainer, or have considered filing a new business or changing structures within your current business, visit us online at www.teilfirms.com to sign up for a FREE initial business consultation. 

Have questions about the European war and how it could affect your business operations? Visit us online at www.teilfirms.com, or call +1 708 531 1740 to speak with a representative about your options or ask any questions that may arise.