Columbia University in the City of New York

Harriman Institute

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Taking Stock of Sanctions on Russia: How will the Russian Economy Survive and Transform?
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This event is online only.

Join us for a meeting of the New York-Russia Public Policy Series, co-hosted by the Harriman Institute at Columbia University and the New York University Jordan Center for the Advanced Study of Russia.

In the wake of unprecedented Western sanctions, the Russian economy has taken a serious hit, but so far, it has fared better than many experts predicted. Is this situation sustainable? Will Russia be able to withstand the upcoming oil embargo and the possible oil price cap? What are the prospects for further economic restrictions against Russia? Our panel of experts will discuss the scope of the sanctions regime, the damage that the sanctions have inflicted and will inflict on the Russian economy and its particular sectors, as well as the countermeasures taken by Russian authorities and their effectiveness.

Speakers

Oleg Itskhoki, Venu and Ana Kotamraju Endowed Chair in Economics at the University of California, Los Angeles

Maria Shagina, Diamond-Brown Research Fellow for Economic Sanctions, Standards and Strategy at the International Institute for Strategic Studies (IISS)

Emily J. Holland, Assistant Professor in the Russia Maritime Studies Institute at the United States Naval War College

Maximilian Hess, Central Asia Fellow in the Eurasia Program at the Foreign Policy Research Institute

Laura Solanko, Senior Advisor at the Bank of Finland Institute for Emerging Economies (BOFIT)

Moderated by:

Alexander Cooley, Claire Tow Professor of Political Science, Barnard College

Joshua Tucker, Director of the Jordan Center for the Advanced Study of Russia at New York University

 

Biographies

Oleg Itskhoki holds the Venu and Ana Kotamraju Endowed Chair in Economics at the University of California, Los Angeles. He is a Fellow of the Econometric Society, an NBER research associate, a CEPR research affiliate, and an associate editor of the American Economic Review. His research interests are in macroeconomics and international economics, where he studies globalization and labor markets, currencies, exchange rates, and international relative prices, as well as other topics. He holds a BA in economics from Moscow State University, an MA in economics from the New Economic School, and a PhD in economics from Harvard University. He is the 2022 John Bates Clark Medalist, a participant of the Review of Economic Studies Tour, a Sloan Research Fellow, a recipient of the Excellence Award in Global Economic Affairs from the Kiel Institute for the World Economy, and he was on the IMF’s list of 25 influential economists under the age of 45.

Maria Shagina is a Diamond-Brown Research Fellow for Economic Sanctions, Standards and Strategy at the International Institute for Strategic Studies (IISS). Previously, she was a Visiting Senior Fellow at the Center on US Politics and Power at the Finnish Institute of International Affairs and a Research Fellow at the Center for Eastern European Studies at the University of Zurich. She holds a Ph.D. in Political Science from the University of Lucerne. Her research interests cover economic statecraft, international sanctions and energy politics, with a particular focus on the post-Soviet states. Dr. Shagina has written extensively on Western sanctions towards Russia, energy security in Eurasia and Russia’s political economy and foreign policy. Her publications have appeared in the IISS, Carnegie Moscow Center, CSS (ETH Zurich), European Council on Foreign Relations, Foreign Policy Research Institute, Atlantic Council, War on the Rocks, and The Kennan Institute. She has consulted government agencies and the private sector on issues of energy security and sanctions. In 2020, she was selected as a GLOBSEC Young Leader and as a member of the European Leadership Network.

Emily Holland is an Assistant Professor in the Russia Maritime Studies Institute at the United States Naval War College. She received her Ph.D. in Political Science from Columbia University. She has also held research appointments at NYU’s Jordan Center for the Advanced Study of Russia,  the European Council on Foreign Relations (Berlin), and the German Institute for Economic Research (DIW). Dr. Holland studies energy politics, Russian foreign policy, US-Russia relations, nuclear geopolitics, populism and European Foreign Policy. Her work has appeared in The Washington Post, Newsweek, War on the Rocks, Lawfare, the Journal of International Affairs, Defense Post, and the Georgetown Journal of International Affairs. In her book project, Poisoned By Gas, she researches energy security policy and energy dependence across Europe.

Maximilian Hess is a Central Asia Fellow in the Eurasia Program at the Foreign Policy Research Institute. He is the former head of political risk at Hawthorn Advisors and the former head of research and intelligence at AKE International. He is a graduate of Franklin & Marshall College and SOAS, University of London. His research focuses on the relationship between economic networks and politics, and he studies the development of foreign debt markets and creditor networks, natural gas geopolitics, and Russian investment and business practices in post-Soviet states. He has just finished writing his book “Economic War: Ukraine and the Global Conflict between Russia and the West,” which covers Russia’s response to Western sanctions and the impact of these countermeasures on the global markets. The book will be published in 2023.

Laura Solanko is a Senior Advisor at the Bank of Finland Institute for Emerging Economies (BOFIT), responsible for Russian economic policies, banking sector developments, energy markets, and Russia’s integration into the global economy. She holds a PhD from the University of Helsinki. Dr. Solanko’s current research is on banking and political economy, with ongoing research projects on political lending cycles in Russia and on the effects of sanctions on listed European firms. Her research has been published in the Journal of Banking and Finance, Public Choice, Review of International Economics, Russian Journal of Money and Finance, and other venues.

 

 

This event is supported by a grant from Carnegie Corporation of New York.

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