Famke Krumbmüller from EY discusses the emerging power blocs resulting from the war in Ukraine. Companies need to understand the allies of their markets. Some sectors like farming and medical equipment are under focus due to geostrategic competition. Cross-border deals have decreased in favor of more regional and intra-area deals. Companies will see increased government intervention and greater regulatory scrutiny in their supply chains. Private equity should consider ESG commitments and navigate geopolitical shifts.