The cost of escalating sanctions on Russia over Ukraine and Crimea
The United States and the European Union responded to Sunday’s Crimea referendum – which overwhelmingly backed union with Russia – by imposing sanctions on Russia. So far, 21 Russian and Ukrainian...
View ArticleRebalancing the EU-Russia-Ukraine gas relationship
The October 2014 agreement on gas supplies between Russia, Ukraine and the European Union did not resolve the Ukraine-Russia conflict over gas. The differences between parties in terms of objectives,...
View ArticleIt’s not just Russia: Currency crisis in the Commonwealth of independent states
Highlights • The currency crisis that started in Russia and Ukraine during 2014 has spread to neighbouring countries in the Commonwealth of Independent States (CIS). The collapse of the Russian ruble,...
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Will natural gas cooperation with Russia save the Greek economy?
In the midst of profound turbulence in the negotiations between Greece and its international lenders, Prime Minister Alexis Tsipras flew to Moscow last week for an official visit to President Vladimir...
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The Gazprom case: good timing or bad timing?
Just a week after having sent a Statement of Objections (SO) in the frame of the antitrust case against Google, EU Competition Commissioner Margrethe Vestager sent yesterday an SO in the frame of the...
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The Russian pipeline waltz
This is an eventful period for EU-Russia gas relations. Six months ago Russian President Vladimir Putin surprised the energy world by dismissing the long-prepared South Stream project in favour of...
View ArticleKosten uns die Russland-Sanktionen wirklich 2 Millionen Jobs?
Vor zwei Wochen hat ein Bericht des Österreichischen Institut für Wirtschaftsforschung (WIFO) zur Wirkung der Russland-Sanktionen auf die europäische Wirtschaft eine hohe mediale Aufmerksamkeit erzielt...
View ArticleEurope must wake up before Iran falls into the arms of Russia and China
This post was originally published on The Financial Times Blogs Everybody seems to be greedily eyeing potential business deals with Iran after the nuclear deal reached with six world powers. This is...
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The systemic roots of Russia’s recession
Highlights: The Russian economy grew rapidly between 2000 and 2007, but growth decelerated after the 2008-09 global financial crisis, and since mid-2014 Russia has moved into recession. A number of...
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The systemic roots of Russia’s recession
This op-ed was originally published in MNI news, Dienas Bizness, Finance, Kamara online. It will also be published in El Mundo and Rzeczpospolita. The recession in Russia began in mid 2014, when...
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Belarus at a crossroads
Since the collapse of the Soviet Union in 1991, Belarus has maintained a largely non-market economic system. This did not prevent rapid growth of its economy over a sustained period up to 2011....
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A new way to approach Europe’s gas security, beyond the usual Russian obsession
This op-ed was originally published in Dienas Bizness, Kauppalehti,and Sina. It was also published in Hospodarske Noviny, Dziennik Gazeta and Diario Economico.. It will also appear in El Economista...
View ArticleThe China-Russia trade relationship and its impact on Europe
See also the event “China-Russia relations and their impact on Europe” held on 21 June 2016. EU countries are complementary to Russia on the Chinese market. However, Chinese exports are increasingly...
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Nord Stream 2: a bad deal for Germany and Eastern Europe
This op-ed was originally published in Energy Post, Dienas Bizness, Hospodárske Noviny, Kauppalehti, Süddeutsche Zeitung and l’Opinion. At the end of last year, Gazprom reached a deal with five...
View ArticleCurrency crises in post-Soviet economies — a never ending story?
This paper is published in the Russian Journal of Economics, Volume 2, Issue 3, September 2016, Pages 302–326. Since the collapse of the Soviet Union, its successor states have suffered from cyclical...
View ArticleCollapse of the Ruble zone and its lessons
This essay, published by CESifo, aims to summarise the experiences of the two monetary disintegration episodes, i.e. termination of settlements in TR since 1 January 1991 and the gradual collapse of...
View ArticleCentral Asia at 25
Central Asia, though referred to as a single region, consists of five culturally and ethnically diverse countries that have followed different political and economic transformation paths in the last 25...
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Nord Stream 2 can wait
This opinion piece was also published in Rzeczpospolita and Tagesspiegel. Gazprom wants to build a second gas pipeline under the Baltic straight from Russia to Germany. Nord Stream 2, as the project...
View ArticleNord Stream 2 means gains for Germany but pain for Europe
This opinion piece was also published in German in EnerGate The construction of a new pipeline under the Baltic Sea between Russia and Germany throws up a series of economic, legal and political...
View ArticleUkraine’s unfinished reform agenda
Compared to previous attempts, especially those following the Orange Revolution in 2004, the current reform round in Ukraine (since 2014) has proved more successful. Some politically difficult...
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