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How to rebuild Ukraine

A year after the start of Russia’s war on Ukraine, the losses have been massive, but Yuriy Gorodnichenko says that it’s crucial to start planning

Assessing the Impact of International Sanctions on Russian Oil Exports

We use a unique high-frequency Russian customs data to evaluate the impact of international sanctions on Russia. We focus on Russian crude oil and oil products exports, as they are the key sources of export revenues and government finances. We find that Russia was able to redirect crude oil exports from Europe to alternative markets such as India, China, and Turkey with no loss of volumes. In particular, we find that Russian oil exports from Pacific Ocean ports, which are critical for trade with China, do not comply with the G7 price cap.

By Tania Babina, Benjamin Hilgenstock, Oleg Itskhoki, Maxim Mironov, and Elina Ribakova

To Save Democracy, Close Tax Havens

The war in Ukraine has highlighted the danger that offshore finance poses to the rules-based global order. Western governments must seize this opportunity to combat

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