The Banking Executive Magazine - April 2022 Issue

Who Owns World Resources? bardments that have killed hundreds of civilians. This conflict has severely strained United States and Russia relations and increased the risk of a wider Eu- ropean conflict. Tensions are likely to increase between Russia and neigh- bouring North Atlantic Treaty Organ- ization (NATO) member countries. Additionally, the conflict in Ukraine will have broader ramifications for future cooperation on critical issues like cybersecurity, and energy secu- rity. Russia’s invasion has the potential to set up a clash of nuclear world pow- ers. It is destabilizing the region and terrorizing Ukrainian citizens. It could also impact inflation, gas prices, and the global economy. The war in Ukraine is likely going to become more violent. It is exacerbat- ing the humanitarian catastrophe on the ground in Ukraine, as shelling cuts off power stations and other sup- ply lines, effectively trapping people within war zones in sub-zero tem- peratures without electricity or water, and with dwindling food, fuel, and medical supplies. In Mariupol, a city of 400,000 that has been under Russ- ian siege for days, people were re- portedly melting snow for drinking water. Humanitarian groups say the fighting is making it difficult to de- liver aid or to reach those civilians left behind often elderly or disabled people, or other vulnerable popula- tions that didn’t have the ability to flee. Cyber War Ukraine has been the target of thou- sands of cyberattacks. In December 2015, more than 225,000 people lost power across Ukraine in an attack on power generation firms, and in De- cember 2016 parts of Kyiv experi- enced another power blackout following a similar attack targeting a Ukrainian utility company. In June 2017, government and business computer systems in Ukraine were hit by the NotPetya cyberattack, which was attributed to Russia. The attack spread to computer systems worldwide and caused billions of the BANKING EXECUTIVE 16 ISSUE 160 APRIL 2022