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What the numbers say: The domestic approval rating of Russian President Vladimir Putin has risen since Moscow launched its full-scale invasion of Ukraine in February 2022. 69% of surveyed Russians approved of Putin's presidency in January 2022 compared to 83% in March of that year. 83% of Russians continued to approve of Putin as of April 2023. Relevance: Russia's invasion of Ukraine triggered the largest refugee wave in Europe since World War Two. It also destabilized global energy and food markets and lowered worldwide GDP growth expectations in 2022. Western countries implemented sanctions against Russia to curb its financial ability to continue the invasion and to reduce the Russian public's support for the war. Polling data indicates that support for the war remains widespread in Russia. Brands that should care: Companies that made strategic decisions based on assumptions that the Russo-Ukrainian war would end quickly, or remain limited, may benefit from reassessing their medium to long-term plans. Western brands that continue to operate in Russia could hedge against the risks of prolonged geopolitical tensions between Russia and the West by divesting Russian assets. |
