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51. Strict and Uniform: Improving EU Sanctions Enforcement

Author:
Kim B. Olsen and Simon Fasterkjær Kjeldsen
Publication Date:
09-2022
Content Type:
Policy Brief
Institution:
German Council on Foreign Relations (DGAP)
Abstract:
For as long as the EU has been using sanctions as a foreign policy instrument, countering violations has been a challenge. With the EU rapidly expanding the breadth and depth of its sanctions, its ­institutions and member states must find ways to ensure stricter and more uniform enforcement to deter violations, enhance efficiency, and ensure a more level playing field for economic actors. The stakes are high: the success of the EU’s response to Russia’s military aggression hinges largely on effective sanctions, and the long-term legitimacy of the tool itself depends on its enforcement.
Topic:
Foreign Policy, Governance, Sanctions, European Union, International Order, and Russia-Ukraine War
Political Geography:
Russia, Europe, and Eastern Europe

52. Strategic dependencies, a question of sovereignty

Author:
Eric Maurice
Publication Date:
04-2022
Content Type:
Policy Brief
Institution:
Robert Schuman Foundation (RSF)
Abstract:
The Russian aggression against Ukraine triggered a massive response from Europeans and their Western allies. Instead of direct military intervention, which would have carried the risk of an armed or even nuclear escalation with Russia, the EU's response has taken the shape of sanctions against the Russian regime in many sectors of the country's economy, with the stated aim of weakening the government's ability to finance the war. The five packages of European sanctions adopted since the end of February in coordination with the sanctions of the G7 countries, have "devastated the Russian economy", deems Commission President Ursula von der Leyen. The sanctions, in particular the exclusion of most Russian banks from the Swift financial messaging system, the ban on market transactions with the Russian Central Bank and the embargo on the sale of certain equipment, are having an impact because they rely on the economic and financial strength of the West and, conversely, on Russia's dependence on Western financial markets and foreign technology. Yet, after two months of war, the Russian regime continues its offensive despite numerous casualties, several tactical defeats and the impact of sanctions. Sanctions have so far failed to stop the fighting, or even to change the behaviour of the Russian President. And for the Europeans there is the question of the final stage of possible sanctions, an embargo on Russian oil and gas, which would deprive the regime of about €100 billion a year (€99 billion in 2021). In early April, EU High Representative Josep Borrell lamented that Europeans had bought €35 billion worth of gas from Russia since the war began. The reluctance of some member states, most notably Germany, to take the decisive step of an embargo highlights the fact that the other side of the EU's economic strength is its dependence on Russian hydrocarbons, which is hampering its decision-making capacity and leaves it at the mercy of supplies being cut off in retaliation for sanctions. While the Commission claims to be geopolitical and the President of the Council considers the European Union's strategic autonomy to be "the aim of our generation", recent events have raised the question of its capacity to act through economic power and sanctions and its dependence on the outside world. They are forcing Europeans to rethink their relationship with the economy and trade.
Topic:
Sovereignty, Sanctions, Gas, Military Intervention, Russia-Ukraine War, and Dependency
Political Geography:
Russia, Europe, and Ukraine

53. The Russia-Ukraine Conflict: Economic Consequences on Europe and the World

Author:
Philip Fwaldin Kasuwa
Publication Date:
09-2022
Content Type:
Journal Article
Journal:
Nowa Polityka Wschodnia
Institution:
Faculty of Political Science and International Studies, Nicolaus Copernicus University in Toruń
Abstract:
A number of international sanctions have been placed on Russia since it launched an attack on Ukraine on February 24, 2022, in order to persuade the country to de-escalate the conflict. The sanctions imposed on Russia, while designed to harm the Russian economy, had unintended consequences on the world economy, primarily through the disruption of global supply chains. Energy supply shocks, commodities and trade supply shocks were all caused by the conflict. In many nations, this resulted in an increase in worldwide inflation. Despite the fact that Israel and Turkey were instrumental in mediating a peaceful end of the conflict between Russia and Ukraine, the economic fallout from the crisis continued to reverberate throughout Europe and beyond.
Topic:
Economics, Sanctions, Commodities, Trade, Supply Chains, and Russia-Ukraine War
Political Geography:
Russia, Ukraine, and Eastern Europe

54. ARE RUSSIA’S THREATS CREDIBLE?

Author:
Stephen Shulman and Stephen Bloom
Publication Date:
02-2022
Content Type:
Commentary and Analysis
Institution:
Political Violence @ A Glance
Abstract:
The current crisis in Europe is a head-to-head battle of policies of coercive diplomacy: compellence by Russia and deterrence by the West. Russia’s demands focus on permanently reversing the expansion of Western military power into Ukraine, backed by the threat of military attack on Ukraine in the absence of compliance. Western policy seeks to deter such an attack by threatening painful economic sanctions and arming Ukraine to make such an attack more costly to Russia. How credible is the Russian threat?
Topic:
NATO, Diplomacy, Sanctions, Crisis Management, and Military
Political Geography:
Russia, Ukraine, and Eastern Europe

55. CONTAINMENT 2.0: SANCTIONS FOR THE LONG HAUL

Author:
David A. Lake
Publication Date:
03-2022
Content Type:
Commentary and Analysis
Institution:
Political Violence @ A Glance
Abstract:
The West is not imposing coercive sanctions on Russia to stop its current aggression. No one seriously expects that the sanctions will cause President Putin to withdraw from Ukraine. NATO made clear before the war that its members will not defend Ukraine with military force. The European members have also, as expected, carved out exceptions to the sanctions regime for oil and gas so as not to impose too much pain on their own economies. Putin anticipated the general scope of the sanctions likely to be imposed on Russia and decided it was worth invading Ukraine anyways. While he may have been surprised by the extent of the sanctions and unity of NATO so far, this is not enough to alter his calculus. Indeed, he is doubling down on the original plan. He also knows that he has other weapons and forms of coercion against the West up his sleeve. Rather, we are seeing the birth of a possible Containment 2.0, a forced decoupling of Russia from the Western international economy. This is a long-term, not a short-term, strategy. The point is to undermine the Russian economy, stifle its technological progress, deny Russians a standard of living comparable to that of the West, and break support for the regime over time. In doing so, the West undermines Russia’s ability to compete militarily, aiming to forestall further Ukraines, and weakens Putin’s hand at home and abroad.
Topic:
NATO, International Trade and Finance, Sanctions, Economy, and Containment
Political Geography:
Russia, Europe, Ukraine, Global Focus, and United States of America

56. WHY OFFSHORE FINANCE LIMITS U.S. SANCTIONS AGAINST RUSSIA

Author:
Menevis Cilizoglu and Chelsea Estancona
Publication Date:
04-2022
Content Type:
Commentary and Analysis
Institution:
Political Violence @ A Glance
Abstract:
More than 1,000 individuals and entities have now been targeted with sanctions since Russia’s invasion of Ukraine, including more than 50 oligarchs close to Putin and their families. These measures include the freezing of assets in international banks, seizure of yachts, private jets, and luxury real estate, and travel bans. Western policymakers hope that targeting a wide network of Russian political and economic elites, including oil executives, steel tycoons, media moguls and high-level intelligence officers will isolate Putin and pressure him to reverse course. The million-dollar question is, can these targeted measures actually hurt Russian oligarchs, let alone pressure Putin?
Topic:
Foreign Policy, War, Sanctions, Offshore Finance, and Shell Companies
Political Geography:
Russia, Ukraine, and United States of America

57. Saving Energy in a Hurry Reducing Dependence on Russian Hydrocarbons Requires Resolute Demand and Supply Sides Action

Author:
Cédric Philibert
Publication Date:
03-2022
Content Type:
Policy Brief
Institution:
Institut français des relations internationales (IFRI)
Abstract:
Facing Russia’s aggression on Ukraine, European countries have enacted economic and financial sanctions against Russia. • However, heavily dependent on Russian gas, European countries fear possible countersanctions. • On the other hand, Russia is heavily dependent, first and foremost, on oil exports, but also, yet to a lesser extent, on gas exports to Europe. Oil and gas represent more than half its total export revenues. • European countries should distinguish two policy needs: reducing their dependence on Russian gas to mitigate the impacts of possible countersanctions; reducing the demand for Russian oil to increase the economic pressure on Russia. • Reducing demand for Russian oil can be much easier for European countries to endure and can be done immediately with an active involvement of the civil society, from companies to citizens. It would ease the cost impacts on European citizens and give them ways to express their solidarity with Ukraine.
Topic:
Security, Oil, Sanctions, European Union, and Gas
Political Geography:
Russia, Europe, and Ukraine

58. The Course of Cooperation between Russia and its Latin American Partners

Author:
Bartlomiej Znojek
Publication Date:
05-2022
Content Type:
Special Report
Institution:
The Polish Institute of International Affairs
Abstract:
For the past several years, Russia has been strengthening ties with the authoritarian regimes of Cuba, Nicaragua, and Venezuela, and has developed cooperation with other Latin American countries as an investor in the energy sector, a supplier of weapons and Sputnik-V COVID-19 vaccine, and in other areas. Most Latin American governments have condemned the Russian aggression against Ukraine, but they have not imposed sanctions on Russia. It is in the EU’s interest to persuade its Latin American partners of the validity of the restrictions and to work together to mitigate the negative economic effects of the war.
Topic:
International Cooperation, War, Sanctions, Authoritarianism, Partnerships, and Vaccine
Political Geography:
Russia, Ukraine, Cuba, Latin America, Nicaragua, and Venezuela

59. The EU's Prospects for Decoupling from Russian Gas

Author:
Maciej Zaniewicz
Publication Date:
04-2022
Content Type:
Special Report
Institution:
The Polish Institute of International Affairs
Abstract:
The Russian aggression against Ukraine and cut-off of gas supplies to Poland and Bulgaria have strengthened the arguments of supporters of EU independence from Russian gas. However, the prospect of a total embargo is still distant because of opposition from some countries, including Austria, Germany, and Hungary. As a result, the EU will focus on a gradual reduction in purchases of Russian gas, which will have a negative impact on the effectiveness of the sanctions against Russia. It is in Poland’s interest to strive for increasing the pace of diversification of gas supplies to the EU and reducing use.
Topic:
Sanctions, European Union, Gas, and Energy Dependence
Political Geography:
Russia, Europe, Poland, and Bulgaria

60. Cutting Putin’s energy rent: ‘smart sanctioning’ Russian oil and gas

Author:
Georg Zachmann, Guntram Wolff, Agata Łoskot-Strachota, Simone Tagliapietra, Axel Ockenfels, Ricardo Hausmann, and Ulrich Schetter
Publication Date:
04-2022
Content Type:
Working Paper
Institution:
Bruegel
Abstract:
In the wake of the Russian aggression against Ukraine, major sanctions have been imposed by Western countries, most notably with the aim of limiting Russia’s access to hard international currency. However, Russia remains the world’s first exporter of oil and gas, and at current energy prices this provides large hard currency revenues. As the war continues, European governments are under increased pressure to scale-up their energy sanctions, following measures taken by the United States, the United Kingdom, Canada and Australia. Given the inelasticity of Russia’s oil and gas supply, the most efficient way for Europe to sanction Russian energy would not be an embargo, but the introduction of an import tariff that can be used flexibly to control the degree of economic pressure on Russia.
Topic:
Oil, Sanctions, Gas, Vladimir Putin, and Energy
Political Geography:
Russia, Eurasia, and Ukraine