Links and Levers: How the Caucasus and Central Asia Are Tied to Russia

By Alberto Behar: (Version in Русский) The countries of the Caucasus and Central Asia (CCA) are closely linked with Russia through trade, financial, and labor market channels. These ties have served the region well in recent years, helping it make significant economic gains when times were good. But how is the region affected when Russia’s economy slows […]

Europe’s Russian Connections

By Aasim M. Husain, Anna Ilyina and Li Zeng: The conflict in Ukraine and the related imposition of sanctions against Russia signal an escalation of geopolitical tensions that is already being felt in the Russian financial markets (Chart 1). A deterioration in the conflict, with or even without a further escalation of sanctions and counter-sanctions, could have a substantial […]

Poland Says Russian Produce Ban Is Payback for Sanctions

By Andy Tully: Warsaw says Russia’s ban on most fruit and vegetable imports from Poland has nothing to do with food safety, as Moscow contends, but is political retaliation for new, tough Western sanctions on Russia, particularly its lucrative oil sector. Alexei Alekseenko, a spokesman for Russia’s Veterinary and Phytosanitary Surveillance Service, issued astatement on July 30, a […]

BRICS Bank Will Not Solve Members’ Energy Issues

By Chris Dalby: From changing the nature of global politics to being a force for human rights, the announcement of the new BRICS development bank has been met with feverish anticipation by the global economic community. Its supporters have written that it will free the world from the grip of the U.S. dollar as reserve currency, while […]

The EPA Holds the Key to Effective Sanctions Against Russia

There now seems to be general consensus amongst the United States and many European nations regarding the actions of the Putin regime in Eastern Ukraine and what should be done about them. Tragically, It took the downing of a civilian plane and the loss of 298 innocent lives, but there is finally agreement that something […]

Is the BRICS Bank More ‘Democratic’ Than the World Bank?

The launch of the new BRICS development bank “reflects the disparity and democratic deficiency in the global governance and is trying to restart, to rethink that,” according to Nobel economist Joseph Stiglitz.  But is the BRICS bank really more “democratic” than the World Bank, whose governance legitimacy its founders are challenging? As the Geo-Graphic above shows, […]

Rosneft Scoffs At U.S Sanctions, Says Western Investors Could Suffer

By Andy Tully: Rosneft, Russia’s government-owned oil giant, says news U.S. sanctions imposed because of Moscow’s suspected role in the continuing fighting in Ukraine are not only “illegitimate,” but they also won’t work as Washington intended. On July 16, the Obama administration imposed its strictest sanctions yet on Russia, including denying Rosneft access to American debt or […]

Russia Touts South Stream Pipeline as Europe’s Gas Lifeline

By Andy Tully: Russia is mounting a major publicity campaign in Europe for its proposed South Stream gas pipeline in an apparent effort to reassure its EU customers that they can rely on Russian gas for the indefinite future. The reason for Moscow’s public relations efforts is the continuing unrest in Ukraine. EU countries now […]

As Russia’s Isolation Grows, Oil Companies Caught in Middle

By Nick Cunningham: The confrontation between Russia and the West took a turn for the worse with the downing of a Malaysian airliner on July 17, and that could spell trouble for several major oil companies operating in Russia. Just one day earlier, U.S. President Barack Obama slapped sanctions on Russia over its ongoing role […]