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151. How Will Coal Sanctions Impact on Russian Economy?

Author:
CESD Research Team
Publication Date:
04-2022
Content Type:
Working Paper
Institution:
Center for Economic and Social Development (CESD)
Abstract:
The Western Alliance has approved a new package of sanctions against Russia. The most notable of the sanctions is the suspension of coal exports from Russia. What does this mean for Russia, and how can the European Union compensate for this ban? Yesterday, the European Commission posted a decision on sanctions on its website, which means that the ban will come into force. This means that from today, European companies will not be able to conclude contracts to buy coal from Russia. The contracts signed in the previous period must be completed by August.
Topic:
Sanctions, European Union, Economy, Exports, Coal, and Russia-Ukraine War
Political Geography:
Russia and Europe

152. Sanctioning Russia: Implications and Expectation

Publication Date:
03-2022
Content Type:
Video
Institution:
The Harriman Institute
Abstract:
Following Russia’s invasion of Ukraine, the West rapidly adopted unprecedented sanctions on Russia. These included a series of export controls and the sanctioning of the Russian Central Bank, major institutions in the financial sector as well as individual “oligarchs” who live and conduct business outside of the country. In addition to these government actions by the United States, the European Union and the UK, hundreds of Western private companies have withdrawn from the Russian market or suspended operations, further exacerbating Russian economic uncertainty. How likely are the sanctions to pressure Russia to halt its campaign in Ukraine, what is their purpose and logic, and what additional measures could be imposed?
Topic:
Economics, Hegemony, Sanctions, Conflict, and Russia-Ukraine War
Political Geography:
Russia, Europe, and Ukraine

153. On the brink of Subsequent Sanctions Against Russia Implications for Azerbaijan

Author:
Emin Mammadov
Publication Date:
12-2022
Content Type:
Working Paper
Institution:
Center for Economic and Social Development (CESD)
Abstract:
In response to Russia’s continuing war against Ukraine and the scope of the current escalation against humanity and civilian infrastructure in Ukraine, the European Council adopts the ninth package of new sanctions targeted to step up the existing pressure on Russia and its government. Since March 2014, the EU has progressively imposed prohibitive measures on Russia in this vein including individual sanctions, economic sanctions including energy, transport, and diplomatic sanctions of which multidimensional backgrounds are attributed to the illegal annexation of Crimea, Russia’s military attack on Ukraine and illegal annexation of Donetsk, Luhansk, Zaporizhzhia and Kherson regions in the current year.
Topic:
Sanctions, European Union, Regional Security, and Russia-Ukraine War
Political Geography:
Russia, Eurasia, Caucasus, and Azerbaijan

154. Brothers in arms: The value of coalitions in sanctions regimes

Author:
Sonali Chowdhry, Julian Hinz, Katrin Kamin, and Joschka Wanner
Publication Date:
10-2022
Content Type:
Working Paper
Institution:
Kiel Institute for the World Economy (IfW)
Abstract:
This paper examines the impact of coalitions on the economic costs of the 2012 Iran and 2014 Russia sanctions. By estimating and simulating a quantitative general equilibrium trade model under different coalition set-ups, we (i) dissect welfare losses for sanction-senders and target; (ii) compare prospective coalition partners and; (iii) provide bounds for the sanctions potential — the maximum welfare change attainable — when sanctions are scaled vertically, i.e. across sectors up to an embargo, or horizontally, i.e. across countries up to a global regime. To gauge the significance of simulation outcomes, we implement a Bayesian bootstrap procedure that generates confidence bands. We find that the implemented measures against Iran and Russia inflicted considerable economic harm, yielding 32 – 37% of the vertical sanctions potential. Our key finding is that coalitions lower the average welfare loss incurred from sanctions relative to unilateral implementation. They also increase the welfare loss imposed on Iran and Russia. Adding China to the coalition further amplifies the welfare loss by 79% for Iran and 22% for Russia. Finally, we quantify transfers that would equalize losses across coalition members. These hypothetical transfers can be seen as a sanctions-equivalent of NATO spending goals and provide a measure of the relative burden borne by coalition countries.
Topic:
Globalization, International Trade and Finance, Markets, Sanctions, Alliance, and Embargo
Political Geography:
Russia, China, Europe, Asia, North America, and United States of America

155. Targeting Financial Entities outside Iran to Counter Tehran’s Economic Strategy

Author:
Yair Albeck
Publication Date:
12-2022
Content Type:
Policy Brief
Institution:
Hudson Institute
Abstract:
Tehran is stringing out the nuclear negotiations endlessly with the expectation that President Joe Biden will not admit that the talks have failed. After such an admission, the public would likely pressure the administration to stop offering Iran stealth economic relief through the lax enforcement of sanctions. Rigorous enforcement would, the White House fears, remove Iranian oil from the market and contribute to the global energy crisis that Russia’s war against Ukraine sparked. Meanwhile, Iran is benefitting doubly—strategically and economically—from the war, selling missiles and drones to Russia and oil to China. Given this advantageous situation, Tehran wants negotiations to continue. Can the United States escape from this conundrum? In fact, it can impose severe economic costs on Tehran without removing oil from the market.
Topic:
Corruption, Diplomacy, Sanctions, Democracy, and Negotiation
Political Geography:
Iran and Middle East

156. Defying United Nations Sanctions: Three Reasons for African Engagement with North Korea

Author:
Tycho van der Hoog
Publication Date:
06-2022
Content Type:
Working Paper
Institution:
Korea Economic Institute of America (KEI)
Abstract:
The United Nations (UN) sanctions against North Korea are weakened by structural evasion techniques and weak enforcement. The African continent is a crucial node in the global illicit networks of North Korea. This paper examines three motives for African states to cooperate with North Korea, with a particular focus on the context of southern Africa: historical affinity (reciprocity), the practical issue of maintenance dependency (necessity), and the presence of weak enforcement regimes (opportunity). Based on a deep reading of UN Panel of Experts reports, academic literature and policy papers, novel archival material, and an interview with a defected North Korean diplomat, this paper argues that solutions to strengthen the sanctions regime can be successful only if they are grounded in African initiatives.
Topic:
Security, Economics, United Nations, Sanctions, Engagement, and Dependency
Political Geography:
Africa and North Korea