Latest Articles about Economics
Economic Doldrums for Belarus, or a Possible End to the Price War With Russia?
The Belarusian economy has begun to sustain losses due to the disruption of Russian oil supplies. Whereas the country’s gross domestic product grew 1.2 percent in 2019 (annual growth), in January 2020, it was 1.9 percent lower than in January 2019. The government had predicted... MORE
Russia Steps up Efforts to Dominate Arctic Region
Moscow approved a number of policy decrees on January 30 that de facto establish a foundation for the introduction of a Russian Arctic strategy until 2035 (see EDM, February 11). Russia’s huge expectations for the Arctic region center on the Northern Sea Route (NSR), whose... MORE
Its Caspian Sea Trade Cut by US Sanctions, Iran Turns to Railways—and Moscow Helps
The United States’ sanctions against Iran and the unwillingness of most Caspian littoral states to challenge them have sent Tehran’s maritime trade in this sea plummeting over the last two years, reducing its non-petroleum component by half (Financial Tribune, May 27, 2019). But that has... MORE
Putin Agrees to Major Write-Off of Russia’s Defense Industry Debt
In late December 2019, Russian President Vladimir Putin signed an ukaz (decree) detailing plans to write off a large portion of the debt collectively owed by the country’s defense industrial complex (Oboronnyi Promyshennyi Kompleks—OPK). The details are not publicly available since the ukaz was classified... MORE
The Future of Chinese Foreign Economic Policy Will Challenge U.S. Interests, Part 2: Renminbi Internationalization and International Economic Institutions
Editor’s Note: This is the second part of a two-part article that addresses the ways in which the evolution of China’s internationally-focused economic policies are likely to impact—and in many instances, to clash with—the economic policies and interests of the United States. The first part,... MORE
Facing Few Obstacles and Scant Pushback, Russia Keeps Advancing in Africa
According to numerous analyses published by think tanks and journals in the United States and Europe, Russia lost its African adventure before it even started. Purportedly, Russia lacks the resources with which to compete in Africa against the United States and China, acts there in... MORE
Russia Prepares Ambitious Economic Strategy for Arctic Region
On January 30, the Russian government approved a number of acts concerned with rendering new economic benefits and subsidies to businesses or investors willing to engage in projects in the country’s High North. The adopted proposals were jointly prepared by the Ministry of Finance (Minfin),... MORE
The Turning Point in Relations Between Moscow and Minsk?
As hard as it is to believe, given President Alyaksandr Lukashenka’s long record of successfully wrenching concessions on energy prices from Moscow, Belarus’s relationship with Russia may finally be approaching a critical turning point. On February 7, Lukashenka was in Sochi to continue the negotiations... MORE
Moscow’s Rift With Minsk Reaches Critical Point
Belarus is officially Russia’s closest ally. In addition to joint membership in the Moscow-dominated Collective Security Treaty Organization (CSTO, a regional defense alliance) and Eurasian Economic Union, Belarus and Russia together form a Union State—a loose confederative structure initially intended to transform into a federation... MORE
Latvia Safeguards Its Telecommunications Assets
As of early 2020, Latvia remains the only Baltic State whose telecommunications market is not wholly controlled by a foreign-owned private enterprise, namely the Swedish companies Telia and Tele2. This situation is particularly important in light of developments in this sector last year. According to... MORE