$1\mathrm{.}1$ As presented in the case study, the crisis is also causing political and economic disruptions across the world, with businesses navigating conflict$-$related risks to their people, assets, operations, and supply chains in the region and globally. $(20$ Marks$)$

As part of the executive management of an organisation with presence in the European market, examine the risk categories that your organisation together with other organisations will be exposed to$.$ Your response should also provide for the impacts.

$1\mathrm{.}2$ As highlighted in the case study insurance, premium payments or claims transactions may be stopped, or there may be delays, while banks request further information before processing due to the Russia$-$Ukraine

conflict. $(20$ Marks$)$

Considering this, would you advise organisations to adopt this risk response approach in the future? Make use of relevant examples to justify your response.

$1\mathrm{.}3$ EurasiaGas is a leading energy company operating in both Russia and Ukraine, specializing in the exploration, production, and distribution of natural gas. Since its establishment in $1992,$ EurasiaGas has become a key player in the regional energy market, supplying essential energy resources to both domestic and international markets. Given the strained relations and conflict between the two countries, the organization has had to navigate various risk$-$related incidents, resulting in improved risk management models. $(20$ Marks$)$

As a competent risk management professional, demonstrate the organization's progression in managing risks within this fragile environment, using relevant frameworks to acknowledge the changes and improvements made. $($Realistic assumptions to be made$).$

$1\mathrm{.}4$ The conflict is causing ships to be redirected to different parts of the world to avoid the affected areas and transport alternative sources of commodities previously supplied by Russia and Ukraine. $(20$ Marks$)$

As a result, organizations in various sectors are exposed to potential losses that could significantly impact their bottom line. In drafting the way forward, recommend appropriate mechanisms to address these issues, ensuring your response considers the provided context.

$1\mathrm{.}5$ Natural gas is considerably cleaner than many other energy sources, leading to high reliance on it by European countries as part of their energy transition. A significant portion of this gas is purchased from Russia $(20$ Marks$)$

The current conflict has highlighted this over$-$reliance, prompting changes in the energy strategies of several countries. Considering this context, examine how organizations in the natural gas sector can utilize the ISO $31000$ framework to manage risks effectively.