Hi Marielle,
Agree with everything in Markus' response.
Sharing some examples to illustrate.
Risk-1: risk of political instability in country XYZ may result to supply chain disruptions, thus delaying project schedule and costs.
Issue-1: Country XYZ is now in a state of civil war, and supply chains have been impacted. The project team needs to re-estimate project costs, schedules, etc.
Risk-2: Risk that the ongoing legal review may result in new regulations which make specifications on the product being developed extremely stringent, therefore impacting the project.
Issue-2: A new regulation has now come into effect mandating that our product needs to comply with very stringent requirements, which will entail additional costs, time, training, manpower, etc.