Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/270460 
Year of Publication: 
2022
Series/Report no.: 
Bruegel Working Paper No. 05/2022
Publisher: 
Bruegel, Brussels
Abstract: 
In the wake of the Russian aggression against Ukraine, major sanctions have been imposed by Western countries, most notably with the aim of limiting Russia's access to hard international currency. However, Russia remains the world's first exporter of oil and gas, and at current energy prices this provides large hard currency revenues. As the war continues, European governments are under increased pressure to scale- up their energy sanctions, following measures taken by the United States, the United Kingdom, Canada and Australia. Given the inelasticity of Russia's oil and gas supply, the most efficient way for Europe to sanction Russian energy would not be an embargo, but the introduction of an import tariff that can be used flexibly to control the degree of economic pressure on Russia.
Subjects: 
energy
Document Type: 
Working Paper
Appears in Collections:

Files in This Item:
File
Size
150.43 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.