Latest Articles about Economics

Returning Veterans of Putin’s War in Ukraine Pose Serious Threat to Russia’s Future
When veterans of the Soviet war in Afghanistan—the so-called “Afgantsy”—and veterans of the two Russian campaigns in Chechnya returned to their homes, many had a difficult time fitting back into a peaceful life. Some used the military skills they had acquired to engage in various... MORE

The Economic Aspect of Russia’s War in Ukraine: Sanctions, Implications, Complications (Part One)
Russia’s full-scale war of aggression against Ukraine, which commenced on February 24 (Kremlin.ru, February 24), pushed the world’s largest advanced economies to introduce several rounds of increasing economic sanctions against the Russian Federation (Meduza, March 8). While the initial impact of those punitive measures seemed... MORE

Russia’s Quick Victory Vanishes, as Protracted War Looks Inevitable
Russia has revised its war plan multiple times during the, so far, seven-week-long, ill-conceived large-scale invasion of Ukraine, yet it still remains incompatible with both tactical imperatives and political ambitions. The consecutive revisions themselves have been flawed in different ways: if the initial “Blitzkrieg” design... MORE

Strange Days in Shanghai
Over the past two years, deserted cityscapes have become a distressingly common sight, but the images of totally empty thoroughfares in the usually pulsating city of Shanghai are striking (The Paper, April 2). By late March, government authorities reported that Shanghai had recorded 30,000 COVID-19... MORE

Central Asia and Russia Sanctions: Threats and Opportunities
International sanctions imposed on Russia in the wake of its massive re-invasion of Ukraine present both challenges and opportunities for Central Asian economies, which are spread asymmetrically across the region. Turkmenistan is, of course, an outlier case given its insularity and lack of truly verifiable... MORE

Putin’s War on Ukraine Throws Black Sea Commercial Shipping Into Turmoil
Russian President Vladimir Putin launched his “special military operation” against Ukraine in an early-morning TV address on February 24. Over a month later, beyond inflicting massive suffering and damage, few of Putin’s initial objectives in Ukraine have been accomplished, from defeating the Ukrainian Armed Forces... MORE

Poland Ready to Discontinue All Imports of Russian Energy by End of 2022
On March 29, the Polish government announced that it will unilaterally place an embargo on Russian coal imports within two months (Rzeczpospolita, March 29); and a day later, it declared that Polish refineries will “do whatever they can” to terminate Russian crude supplies by the... MORE

Moscow Using Central Asian Migrants to Fight in Ukraine
Moscow has opened a new front in its effort to find enough soldiers to fight in Ukraine (see EDM, March 16): it is ordering Central Asian immigrants in Russia who have taken Russian citizenship to appear for induction, and it is offering citizenship and high... MORE

In Southern Ukraine, Russian Occupation Policy Takes Shape (Part One)
Russian forces invaded southern Ukraine on February 24, 2022, from two convergent directions, Crimea and Donetsk, both already occupied since 2014 (see EDM, April 6). Russia’s second invasion resulted, by mid-March 2022, in the capture of Ukraine’s entire Kherson province, a considerable part of the... MORE

Divining Belarus’s Future Amidst International and Domestic Unrest
How long will Belarus remain a pariah in the eyes of its neighbors? According to Yury Drakakhrust of Radio Liberty, this depends on whether the Belarusian army enters the Russo-Ukrainian war and, above all, on that conflict’s outcome. If Russia emerges weakened from this war,... MORE