Russia launched a large-scale military invasion on the neighboring country of Ukraine in late February, escalating a conflict that began in 2014 that is now causing rippling effects around the world.
The relentless bombardments of Ukraine from Russia has forced one million refugees to flee the country in seven days, all while allies in the West try to limit Russia’s efforts through unprecedented sanctions. As Trent Cotney, CEO of Cotney Attorneys & Consultants explains, it’s all bound to have an effect on the construction industry.
“It’s crazy watching the news, sometimes it’s difficult to watch what’s going on, but there are a few things that are impacting construction,” he said.
In this Legal Insights video, Cotney shares how construction companies could provide assistance to refugees looking to relocate by offering them jobs in the industry. He also explains the impact the war is going to have as oil and gas production and shipments are interrupted, as well as how contractors can be better prepared for cost increases.
On the local front, Cotney touches on updates the Occupational Safety and Health Administration (OSHA) is making to rules and regulations regarding powered industrial trucks.
“One of the concerns that I had from a construction standpoint … that you may have to go back and retrofit all of your old forklifts and equipment,” Cotney said.