More From Martin Chorzempa Senior Research Staff Related Topics:  China Russia Ukraine Sanctions Trade Policy View Sharing Options Sanctions against Russia are also hurting its trade with nonsanctioning countries Martin Chorzempa (PIIE) June 29, 2022 Export restrictions and sanctions imposed on Russia following its invasion of Ukraine are damaging the Russian economy. Exports to Russia have fallen significantly from sanctioning countries, but also, surprisingly, from nonsanctioning countries, most notably China. Since the invasion, sanctioning countries' exports to Russia hav ..read more

Want more research like this? Subscribe to the PIIE Insider Weekly Newsletter RealTime Economic Issues Watch View Sharing Options Export controls against Russia are working—with the help of China Martin Chorzempa (PIIE) June 27, 2022 12:30 PM Image credit:  REUTERS/Aly Song The economic sanctions targeting Russia after its invasion of Ukraine have been described as an effort to permanently weaken its ability to make war. Russia is vulnerable to export restrictions on military-related components, many of which come from abroad. At the same time, most countries have refused to joi ..read more

Want more research like this? Subscribe to the PIIE Insider Weekly Newsletter RealTime Economic Issues Watch View Sharing Options The EU and UK’s plan to ban insurance for tankers carrying Russian oil is a bad idea Olivier Blanchard (PIIE) June 9, 2022 9:30 AM Image credit:  REUTERS/Sergei Karpukhin Leaders of the European Union and the United Kingdom agreed last week to seek a ban on all insurance for tankers that carry Russian oil anywhere in the world. Doing so might sound like a logical next step in tightening sanctions against Russia. But it is not. It is important to reduc ..read more

Want more research like this? Subscribe to the PIIE Insider Weekly Newsletter RealTime Economic Issues Watch View Sharing Options Will the Russia-Ukraine war speed European fiscal integration? Jacob Funk Kirkegaard (PIIE) May 30, 2022 12:15 AM Image credit:  Ludovic Marin / Pool via REUTERS The effort by Europe, the United States, and other Group of Seven (G7) members and democracies to sanction Russia and provide military and financial support to Ukraine has been driven by a mixture of idealism and self-interest. But the tragic war in Ukraine also offers the chance for the Euro ..read more

More From Olivier Blanchard Senior Research Staff Jean Pisani-Ferry Senior Research Staff Related Topics:  European Union Ukraine Fiscal Policy Educational Resources Energy View Sharing Options The war in Ukraine is likely to worsen Europe’s economic problems Olivier Blanchard (PIIE) and Jean Pisani-Ferry (PIIE) May 9, 2022 European policymakers must devise ways to protect consumers and businesses from economic hardship resulting from the war in Ukraine. This PIIE Chart lays out short- and long-term effects of the war, difficulties including loss of exports to Russia, th ..read more

More From:  Maurice Obstfeld Senior Research Staff Anna Gelpern Senior Research Staff Sean Hagan Senior Research Staff Op-Eds Related Topics Ukraine View Sharing Options Life or Debt in Ukraine Maurice Obstfeld (PIIE), Anna Gelpern (PIIE), Yuriy Gorodnichenko (University of California, Berkeley) and Sean Hagan (PIIE) April 29, 2022 via Project Syndicate Want more research like this? Subscribe to the PIIE Insider Weekly Newsletter Recommended ..read more

Want more research like this? Subscribe to the PIIE Insider Weekly Newsletter RealTime Economic Issues Watch View Sharing Options Is the Russia-Europe energy bind about to unravel? Steven Fries (PIIE) April 28, 2022 12:30 PM Image credit:  REUTERS/Maxim Shemetov Faced with pressure from the West's financial and economic sanctions and NATO support for Ukraine's defense, Russia turned off natural gas exports to Poland and Bulgaria on April 27, ostensibly because of their refusal to pay in rubles. Despite the export cuts, Russia can stand to benefit as European gas prices shot up b ..read more

Policy Brief View Sharing Options Fiscal support and monetary vigilance: Economic policy implications of the Russia-Ukraine war for the European Union Olivier Blanchard (PIIE) and Jean Pisani-Ferry (PIIE) 22-5 pb22-5.zip April 2022 Photo Credit:  REUTERS/Yves Herman The economic shock from the war in Ukraine is forcing Europe to face difficult policy choices, according to Olivier Blanchard and Jean Pisani-Ferry. Governments must decide how best to soften the blow of higher energy and food prices, and how much to rely on debt finance. The European Central Bank must decide how to bala ..read more

Want more research like this? Subscribe to the PIIE Insider Weekly Newsletter RealTime Economic Issues Watch View Sharing Options The United States should seize Russian assets for Ukraine’s reconstruction Gary Clyde Hufbauer (PIIE) and Jeffrey J. Schott (PIIE) April 21, 2022 2:30 PM Image credit:  REUTERS/Alexander Ermochenko While the brutal war for Ukraine continues to escalate, it is not too soon to think about eventually rebuilding that devastated country and how to pay for it. An obvious funding source would be the hundreds of billions of dollars in assets of the Central Ba ..read more

Want more research like this? Subscribe to the PIIE Insider Weekly Newsletter RealTime Economic Issues Watch View Sharing Options The EU should sanction Sberbank and other Russian banks as it ponders banning Russian oil and gas Joshua Kirschenbaum* and Nicolas Véron (PIIE) April 15, 2022 1:00 AM Image credit:  REUTERS/Denis Sinyako The authors gratefully acknowledge Egor Gornostay's help with Russian balance sheet data. Graphic design and production by Nia Kitchin and Oliver Ward. The European Union (EU) had a vigorous early response to Vladimir Putin's aggression in Ukra ..read more