Section: Peterson Institute for International Economics (USA)
The EU’s latest bargain with Hungary’s Orban unlocks aid to Ukraine
Prime Minister Viktor Orbán of Hungary, the authoritarian champion of what he calls Chinese and Russian-styled “illiberal democracy,” has rankled EU leaders over his vetos of EU aid to Ukraine and EU accession to the widely supported global minimum corporate tax agreement. But in order to get his hands on as much EU cash as possible in the years...
Discounted Russian oil prices have started recovering, maintaining Moscow’s revenues
At the beginning of the Russia-Ukraine conflict, the price of Russian crude oil dropped relative to international benchmarks. By the beginning of April, Urals crude, Russia’s flagship export blend, was $35 per barrel cheaper than the Brent benchmark oil price, or 34 percent in relative terms. But… …read more Source:: Peterson...
Who controls critical mineral supply chains for green energy?
The Russian invasion of Ukraine underscored the vulnerability of global oil and gas supply chains and raised questions about the security of other critical resources for energy production. As economies transition away from fossil fuels, vulnerabilities in critical mineral supply chains for… …read more Source:: Peterson Institute for...
Who controls the world’s minerals needed for green energy?
The Russian invasion of Ukraine has not simply exposed Europe’s dangerous dependence on Russian oil and gas. The war has also underscored a less appreciated but equally worrisome vulnerability in the industrial West to threats that could hamper access to minerals vital to the transition from fossil… …read more Source:: Peterson...
Sanctions against Russia are also hurting its trade with nonsanctioning countries
Export restrictions and sanctions imposed on Russia following its invasion of Ukraine are damaging the Russian economy. Exports to Russia have fallen significantly from sanctioning countries, but also, surprisingly, from nonsanctioning countries, most notably China. Since the invasion, sanctioning… …read more Source:: Peterson...
Export controls against Russia are working—with the help of China
The economic sanctions targeting Russia after its invasion of Ukraine have been described as an effort to permanently weaken its ability to make war. Even if the new Group of Seven (G7) oil price cap plan fails to force Russia to the negotiating table, Russia is vulnerable to export restrictions on… …read more Source:: Peterson...
Will the WTO survive amid Russia’s war and other stresses on global trade?
The World Trade Organization will hold its next ministerial conference the second week of June. The gathering has already been postponed twice, and Russia’s war in Ukraine now makes it hard for delegates to meet and agree. The world desperately needs strong multilateral organizations and global… …read more Source:: Peterson...
Less democratic governments have been more likely to resort to food export bans since Russia invaded Ukraine
Russia’s war in Ukraine has led to worldwide food shortages, compelling several governments to ban food exports to curb rising prices at home. Twenty-three countries, including major wheat and vegetable oil producers, have banned or limited exports of these products. These regimes have tended to be… …read more Source:: Peterson...
Authoritarian leaders are turning to food export bans amid war in Ukraine
Since the onset of Russia’s war in Ukraine, 23 countries have imposed bans on food exports , including major grain and vegetable oil producers Kazakhstan, Turkey, Russia, and Ukraine itself. In a global food system reeling from COVID-19 and war, these bans curtail supply, increase volatility, and… …read more Source:: Peterson...
Will the Russia-Ukraine war speed European fiscal integration?
The effort by Europe, the United States, and other Group of Seven (G7) members and democracies to sanction Russia and provide military and financial support to Ukraine has been driven by a mixture of idealism and self-interest. But the tragic war in Ukraine also offers the chance for the European… …read more Source:: Peterson...
