1/4 KSE Institute 🇺🇦 Senior Economist Benjamin Hilgenstock & German Institute for Global and Area Studies Senior Research Fellow Julia Grauvogel joined the Deutschlandfunk podcast hosted by Jörg Biesler to discuss the history of economic sanctions to put the Russia case into perspective: bit.ly/4bqIxJb

1/4 Elina Ribakova 🇺🇦 in her Financial Times op-ed warns that Russia's military economy may prolong its war in Ukraine. Militarisation, a pragmatic choice for the government to avoid a hard landing, also stimulates Russia's economic development. Read more: on.ft.com/3QzDZbm

1/2 'Russia, an embarrassing source of profit for major international banks' by Marc Angrand Le Monde. Study by KSE Institute 🇺🇦 SelfSanctions project shows that 21 international banks are still operating in Russia and paid €970m in taxes in 2023. Read more: bit.ly/44rgfw1

1/7 KSE Institute 🇺🇦's experts Benjamin Hilgenstock Elina Ribakova 🇺🇦 & Anna Vlasyuk alongside Guntram Wolff from Bruegel published the Working Paper 'Using the financial system to enforce export controls on Russia.' Full: bit.ly/3UJ16mc

”..value of Turkey’s reported exports of high-priority goods to Russia and its neighbouring countries fell 40 per cent to $93mn in the first quarter of 2024 from the previous quarter, showing the impact of the executive order.”🇹🇷🇷🇺 on.ft.com/3QzgSh7

A US crackdown on banks financing trade in goods for Vladimir Putin’s invasion of Ukraine – and the fear of secondary sanctions – has made it much more difficult to move money in and out of Russia.

Latest with ⁦Chris Cook⁩ ⁦Anastasia Stognei⁩ ft.com/content/b4a556…

Our detailled workimg paper on using the financial system to enforce export controls with Elina Ribakova 🇺🇦 Benjamin Hilgenstock
and Anna Vlasyuk has just been published Bruegel. Have a look
bruegel.org/working-paper/…

Contrary to expectations that economic constraints would hinder Russia’s capacity to sustain fighting, the specter of economic collapse might push Putin to double down on militarization, even if aggression on Ukraine hits a standstill. By Elina Ribakova 🇺🇦:
ft.com/content/3fd6b6…

Rather than serving as a constraint, Russia’s economy might become an additional incentive to prolong its war in Ukraine, writes Elina Ribakova 🇺🇦 ft.com/content/3fd6b6…

Gazprom lost $7bn last year, its first loss in a quarter century, after gas sales more than halved in the fallout from Vladimir Putin’s war in Ukraine.

Its core business — selling gas to Europe — has become a lossmaking millstone.

with Anastasia Stognei

ft.com/content/f6ba32…

🇷🇺 - Russian gas giant Gazprom has just reported first net loss since 1999
• Gazprom posted US$6.84bn loss in 2023 as sanctions drastically curb sales to Europe
• Gazprom's losses will put Russian budget under (even) more pressure amid rising military spending

🚛This working paper, authored by Benjamin Hilgenstock, Elina Ribakova 🇺🇦, Guntram Wolff and Anna Vlasyuk, offers an insightful perspective on how the financial system can be utilized to enforce export controls.

Read it here⤵️
bruegel.org/working-paper/…

Today, we are celebrating 20 years since the great EU enlargement!

On 1 May 2004, the citizens of 🇨🇾 🇨🇿 🇪🇪 🇭🇺 🇱🇻 🇱🇹 🇲🇹 🇵🇱 🇸🇰 🇸🇮 became citizens of the EU.

Over the past two decades, the pace of change across our Union has been remarkable.

#20YearsTogether

1/6 'Russia sanctions: The time to act is now!' emphasizes Benjamin Hilgenstock in his op-ed for Wirtschaftsdienst. Questioning sanctions' effectiveness is counterproductive for Germany and Europe's security. Read more: bit.ly/3xUMibn

The largest western banks in Russia paid the Kremlin more than €800mn in taxes last year, a fourfold increase on prewar levels, despite promises to minimise their exposure after the invasion of Ukraine, ⁦Euan Healy⁩ and ⁦Anastasia Stognei⁩ report on.ft.com/3UBv6k3

Returns of frozen Russian assets should be used to finance borrowing by Ukraine’s partners, with the proceeds of the borrowing put in a fund that is available in a predictable manner.
Torbjorn Becker Stockholm Institute of Transition Economics (SITE) Stockholm School of Economics, Yuriy Gorodnichenko UC Berkeley
ow.ly/PbCt50RnOjn

Shadow-Fleet Oil Tanker That Crashed Had Void Western Insurance

Andromeda Star had documents showing invalid western cover

Questions raised about who would pay up in event of a spill

#oott #Russia #Denmark bloomberg.com/news/articles/…

1/5 KSE Institute 🇺🇦 RU Chartbook: “External Environment Turning More Supportive, Fiscal Outlook No Constraint For Russia’s War.” The external environment is improving and rising oil & gas budget revenues help to reduce fiscal financing pressure. Chartbook: t.ly/zKcEn

No, Russia-China trade ties are not special - in this op-ed for the Financial Times I debunk this popular myth and argue that commercial ties between both countries are catching up from an abnormally low base 👇
ft.com/content/4bc097…

.Benjamin Hilgenstock kommentiert im Wirtschaftsdienst die Russlandsanktionen und fordert eine konsequente Durchsetzung. wirtschaftsdienst.eu/inhalt/jahr/20…