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Analyses | | Iwona Wiśniewska, Filip Rudnik

Seventeenth package of EU sanctions against Russia a signal to Moscow and Washington

On 20 May, the European Union adopted its 17th sanctions package against the Russian Federation. This package significantly expands the list of entities subject to EU sanctions. It includes 189 tankers from the ‘shadow fleet’, along with…
Analyses | | Iwona Wiśniewska

Low oil prices are forcing Russia to revise its 2025 budget

On 30 April, the Russian government approved a draft law to revise the 2025 budget parameters. The government’s new macroeconomic projection assumes, among other things, an average annual oil export price of $56 per barrel (down from the $…
OSW Report | | Iwona Wiśniewska

A game of cat and mouse. How Russia is circumventing sanctions

The restrictions are having an impact, as seen in Russia’s civilian-orientated industries. However, the West – particularly the European Union, which was Moscow’s largest trading partner before the invasion – has not demonstrated…
Analyses | | Iwona Wiśniewska, Filip Rudnik

The EUs new sanctions package against Russia a cautious approach still prevails

On 24 February, the European Union adopted its 16th package of sanctions against Russia, targeting the energy, financial, and metallurgical sectors. A key element of the package is the further tightening of restrictions on the sale of…
Analyses | | Iwona Wiśniewska

The Biden administration is solidifying sanctions against Russia

On 15 January, the outgoing US administration amended the legal basis for sanctioning nearly 100 Russian entities. The new package of restrictions subjects all these companies to sanctions under Executive Order 13662 (2014), which…
Analyses | | Iwona Wiśniewska, Filip Rudnik

The US imposes sanctions on Gazprombank

On 21 November, the United States further tightened financial restrictions on Russia. This time, Gazprombank, along with its Swiss-based subsidiaries and over 50 smaller Russian banks involved in facilitating Russian foreign trade, was…
OSW Report | | Iwona Wiśniewska

Pivot to the east. Russia’s transport policy

As a result of Russia’s aggression against Ukraine, which has been ongoing since 2014, and the ensuing Western sanctions, Russia has reoriented its foreign trade towards the East. This is a permanent shift which stems from Russia’s…
Analyses | | Marcin Jędrysiak, Sławomir Matuszak, Iwona Wiśniewska

The G7 Summit $50 billion has been promised to Ukraine

During the summit in Apulia from 13–15 June, the G7 group decided to launch a mechanism to aid Ukraine, effectively offering it $50 billion by the end of 2024. The Extraordinary Revenue Acceleration Loans for Ukraine (ERA) involves…
Analyses | | Iwona Wiśniewska

New US sanctions increased financial pressure on Russia

On 12 June, the United States once again expanded its restrictions in an attempt to further separate the Russian Federation (RF) from international financial markets. The US sanctions lists now include 100 new individuals and entities from…
Analyses | | Iwona Wiśniewska

The EUs decision to use the profits generated by frozen Russian assets

On 21 May, the Council of the European Union approved a plan to allocate the profits generated by frozen Russian state assets to support Ukraine. Central securities depositories in the EU (national or international financial institutions…