The EU has refused to immediately and fully embargo Russian oil and gas purchases out of fear that it would throw the continent into an industrially-led recession, or would cause a much larger spike in prices. These arguments do not reflect the reality of supply-side elasticity in the oil and gas markets, and ignore the enormous costs that we are paying already as a result of the purchases of oil and gas from Russia
A group of independent, international experts recommends new economic and other measures to pressure Russian President Vladimir Putin to end his invasion of Ukraine.
The International Working Group on Russian Sanctions is comprised of a number of independent, international experts. The group is focused on recommending new economic and other measures to pressure Russian President Vladimir Putin to end his invasion of Ukraine and restore Ukraine’s territorial integrity.
Russia has problems with supply chains, a debt crisis, a severe bank run, a currency crisis, and foreign direct investment issues because of the war it started against Ukraine. The best macroeconomic policy for Russia is to stop this insane war.
The European Union (EU) countries have paid over 13 billion dollars for Russian oil, gas, and coal since Russia invaded Ukraine.
Earlier we argued that buying Russian oil was immoral. But no less moral is for companies (especially for companies that practice ESG) to continue operations in Russia paying taxes and thus enabling Putin to kill more Ukrainians.
It is an open secret that Russian elites used their vast wealth to buy assets and prestige in the West. But the Russian influence did not stop there.
The unthinkable is happening. Putin started an aggressive war against the people of Ukraine, a fellow Slav country in the middle of Europe.
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