Post Date : February 25, 2022
Ukraine has been under a wave of multiple cyber attacks with the ongoing tension against Russia and the US, NATO and Europe, though claim to have solidified their defenses against such attacks, are barely able to shield Ukraine from them.
In the world we live in, before an unfriendly tank crosses the border or a fighter jet violates an airspace, it is networks that will have been first tested and attacked.”Margaritis Schinas, vice president at the European Commission
The CISA had already and are still warning business to be prepared for a series of cyber attacks as Russia moves into Ukraine. The famous NotPetya attack in 2017, by Kremlin-backed hackers, crippled the Ukranian tax reporting software and the heat was felt by numerous unrelated companies globally. The attack caused damages worth USD 10 billion, not confined within the Ukrainian boundaries. Among the victims were Maersk, Merck and FedEx’s European subsidiary TNT Express.
Shippers around the world worry that, like Nhava Sheva and Expeditors, more globally active logistics centers could be the target of these cyber attacks, crippling supply chains at domestic as well as international level. They are also alarmed with the expected rise in fuel prices, freight rates, surcharges and other disruptions in supply chain that may follow Russia’s march onto Ukraine. The important rail and road routes going through Ukraine and Russia are also expected to come under impact, causing severe disruptions.
The [conflict] could cause both physical disturbances to supply chains, as well as a reduced ability for international buyers to transact. In turn, there’s also likely to be increased commodity prices, which could further exacerbate ongoing global supply chain inflation.”Chris Rogers, Supply Chain Economist for Flexport
As Ukraine struggles with defence against these cyber attacks, this is being termed as one of the most acute cyber crisis faced by the western corporations.