Over the past few decades, globalisation has been the strongest developmental driving force in the whole world. The combination of accelerated trade opening and huge financial transfers between nations has opened the way for economic development in one part of less developed economies. Technology transfer that occurred through investments by multinational corporations made technological progress possible and created chances that did not exist in some societies. Thus, globalization guided by the principles of market economy has become an indispensable technology of social and economic progress of the modern world. Globalization also has its own backs, its losers, opponents and malcontents of different sources, at all angles of the ideological spectrum. Opponents of globalisation express their views with a variety of instruments at their disposal and depending on the position they occupy, from public policy advocacy on one side, for example, to the use of violence on the other. At the intersection of conflicts between different actors and their desires to influence the formation of rules in the game, through various political forms, political-economic uncertainty arises, the reason for the emergence of the concept of political risk. The purpose of this paper is to describe what is a political risk and what is the cognitive power of this concept. The question also arises whether political risk is indeed an effective analytical concept in the age of heightened global political-economic uncertainty, which can benefit international economic actors. The work is divided into two parts. The first part describes the basics of the architecture of the concept, such as the concept of risk and definition of the concept of political risk, and describes some epistemiological dilemmas and sources of political risk. The second part of the paper deals with the reflection of the concept in the context of international trade.