UDC 339:338.47

DOI: http://doi.org/10.15350/2409-7616.2024.1.49

Loginova V.A.¹ (Khabarovsk, Russian Federation) – 000234@pnu.edu.ru; Nilga O.K.¹ (Khabarovsk, Russian Federation) – 2021101836@pnu.edu.ru

¹Pacific Nation University

Abstract. The study purpose is to identify the main parameters of the economy that are influenced by various types of force majeure circumstances. The study is descriptive in nature and secondary data was used for detailed analysis. The main sources of information were company websites, research reports, articles, newspaper publications, world trade statistics and other sources. Abstract-logical method, methods of description, statistical and content analysis were used. The article discusses the force majeure concept, their hierarchy regarding occurrence (first and second order). Since force majeure circumstances have different origins, duration, and consequences for economic entities, it is proposed to divide them into natural, man-made and political. The most significant force majeure circumstances of recent times were taken as the object of analysis, in particular, earthquakes and tsunamis in the Asia-Pacific region, the Covid-19 pandemic, sanctions and counter-sanctions after the start of the SVO, and the technical blockage of the Suez Canal. Based on the analysis of publications on the connection of these circumstances with the dynamics of business processes in individual countries and the world economy as a whole, and statistical data, conclusions were drawn about the main parameters that are influenced by natural, man-made and political force majeure circumstances. At the same time, the degree of influence of long-term natural events in the form of a pandemic and geopolitical force majeure is more significant and multifaceted, which necessitates further research into the impact of force majeure circumstances on business and the development of proposals to minimize their consequences.

Keywords: force majeure, natural, man-made and political force majeure, Covid-19 pandemic, sanctions and counter-sanctions, blocking of the Suez Canal.

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For citation:  Loginova V.A., Nilga O.K. Modern force majeure circumstances: implications for business processes. CITISE, 2024, no. 1, pp. 564-576. DOI: http://doi.org/10.15350/2409-7616.2024.1.49