Record high temperatures and a drought have sparked a series of wildfires across Russia since late July, resulting in severe smog in Moscow, concerns about radioactivity, and numerous deaths.

The full impact is still unclear as the situation continues to unfold, but many industries have already been affected. 

Experts from two major banks said the heat wave had a serious affect on the national economy, particularly agricultural output, and economists in Russia expect a USD $15 billion decrease in economic output, according to Marsh Russia.

Organizations with interests in Russia should review their business resiliency options and consider potential scenarios to ensure that emerging threats to their business are understood.