The war in Ukraine, sanctions, and the Russian war economy

Russia's war in Ukraine has now been going on for almost five years, with no end in sight. Western sanctions have hurt the Russian war economy, and it is suffering from growing structural fatigue, but the country is accelerating its attacks on Ukraine. The sanctions imposed by the US Congress under the Lindsey O. Graham Sanctioning Russia Act have recently been rolled back by President Donald Trump's decision to buy Russian diesel and waive sanctions. The European Union is increasing its military, economic, and humanitarian support for Ukraine, but will it be enough? What is the actual state of the Russian war economy, and what can we expect for the upcoming winter? Will the US midterm elections change Washington's position on the war? And with pro-Russia parties on the rise in Europe, will the European Union hold strong?

HOST

Cecilia Malmström Nonresident Senior Fellow, Peterson Institute for International Economics (PIIE)

GUESTS

Elina Ribakova Nonresident Senior Fellow, PIIE; Nonresident Fellow, Bruegel; Director, International Program, Kyiv School of Economics

Thomas Wright Senior Fellow, Strobe Talbott Center for Security, Strategy and Technology, Brookings Institution; Former Senior Director for Strategic Planning, National Security Council

About This Series

Trade Winds explores the future of international trade—the challenges, possibilities, and where international efforts are headed—in a monthly virtual event series hosted by Cecilia Malmström. Join the discussion to learn from global policymakers, practitioners, business leaders from different sectors, experts, and more.