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As part of British Expertise International’s programme of events focusing on Ukraine recovery and reconstruction, we were delighted to host in partnership with our members Prevail Partners a panel discussion earlier this month with experts in macroeconomic policy, law and governance, security and intelligence, and political risk insurance. Our speakers included Glib Buriak, Macroeconomic Advisor to the Parliament of Ukraine’s Economic Committee; Lesia Vasylenko, Lawyer and People’s Deputy in the Parliament of Ukraine; Duncan Spinner, Head of Country, Ukraine at security and intelligence firm Prevail Partners; and George Dagnall, Chief Operating Officer at Hotspot Insurance.
The aim of the discussion was to support UK businesses seeking to work on Ukraine’s recovery with insights on navigating the rapidly changing environment and associated risks. These risks, both physical (UAVs, ballistics, sabotage and subversion) and financial, cannot be taken lightly. Neither should businesses pin their hopes on a ceasefire, not least given the broader geopolitical uncertainty.
In short, the picture is gloomy in a macro sense, but recovery has already begun: for businesses willing to accept the risks and take informed, effective steps to mitigate them, worthwhile opportunities to support Ukraine’s ongoing reconstruction efforts are there and can reward a diligent approach.
In terms of risk mitigation, the discussion touched on combining physical protection on the ground with the use of intelligence – such as tools which can ascertain the risk rating of a given square kilometre or, often, a specific building – before moving on to the latest progress in insurance. A recent shift in the insurance sector towards scenario-based cover and multi-layered risk structures, with more flexible, responsive products that are quick to deploy means that businesses can see cover as an enabler rather than a blocker, especially if insurance conversations and relationship building have started well ahead of time.
The importance of dedicating sufficient time and resources, identifying the right partners and fostering strong relationships was a constant theme throughout the discussion. Our speakers drew attention to the complex administrative and legal environment in wartime Ukraine, and how businesses that try to simply ‘land and launch’ will typically overpromise and underdeliver, thereby exposing themselves to reputational risk.
The importance of building relationships with trusted local partners was emphasised again when the discussion moved to unlocking funding and navigating government frameworks in Ukraine. Significant funding is available across strategic infrastructure sectors, e.g. transport, digital, energy, agriculture and healthcare, and IFIs remain eager to support Ukraine and invest in the growth potential of its private sector, made easier by recent business-oriented legislative changes. However, local private companies and consultants are the key to this, as they provide the nous essential for working effectively with heavily-scrutinised public bodies and frameworks in Ukraine’s war-stressed economy – which can easily trip up an underprepared international partner – and their presence indicates that a business has done its homework, therefore strengthening bid potential.
This picture of increased opportunity for UK companies was rounded off as discussion turned to the landmark UK-Ukraine 100-year partnership agreement, signed in early 2025, which is the first long-term bilateral trade agreement of its kind. Its remit – bilateral cooperation across defence and security, economy, trade and scientific advancement, as well as social and cultural ties – has already led to a number of offices and instruments being established to aid implementation, such as the Infrastructure Taskforce, as well as close collaboration on greening Ukraine’s economy. Combined with the recent re-appointment of a UK Trade Envoy to Ukraine, a number of vehicles are being developed for UK businesses to use in accessing the Ukrainian market.
The discussion concluded by considering that, with the right preparation and approach, many valuable opportunities exist in Ukraine in spite of the adverse local and geopolitical situation. Businesses in Germany, Denmark and other European countries are stepping up to deliver joint ventures and projects which reduce Ukraine’s reliance on aid and loans, and the conditions are there for British businesses to play a key role in Ukraine’s recovery by doing the same. BEI will continue to help members to make the connections that will enable them to work in Ukraine.
To catch up on the full discussion and hear directly from our expert panel, you can watch the event recording here.
Prevail Partners is an intelligence and security company delivering risk management, global intelligence, operational support, and resilience services to Governments, businesses, and NGOs. Since December 2021, Prevail has been supporting clients to achieve their objectives across Ukraine, including operations within five kilometres of the Russian lines. With a trusted team permanently based in Kyiv and a proven intelligence-led approach, we stand ready to support your market entry, technology trials, and security needs. For more information on the services offered by Prevail Partners in Ukraine, please click here.
To learn more about how Prevail Partners can support your organisation’s efforts in Ukraine, contact Duncan Spinner, Head of Ukraine, at duncanspinner@prevail-partners.com.
Written by Alex Murr, Relationship Manager, British Expertise International
