EconPapers    
Economics at your fingertips  
 

Cutting Putin’s Energy Rent: 'Smart Sanctioning' Russian Oil and Gas

Ricardo Hausmann, Agata Łoskot-Strachota, Axel Ockenfels, Ulrich Schetter, Simone Tagliapietra, Guntram Wolff and Georg Zachmann

No 412, CID Working Papers from Center for International Development at Harvard University

Abstract: Following 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. This piece argues that given the inelasticity of Russia’s oil and gas supply, for Europe the most efficient way 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.

Keywords: Ukraine War; Russia (search for similar items in EconPapers)
Date: 2022-04
New Economics Papers: this item is included in nep-cis, nep-ene, nep-int and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://growthlab.cid.harvard.edu/files/growthlab/ ... tins-energy-rent.pdf (application/pdf)

Related works:
Working Paper: Cutting Putin’s energy rent- ‘smart sanctioning’ Russian oil and gas (2022) Downloads
Working Paper: Cutting Putin’s Energy Rent: 'Smart Sanctioning' Russian Oil and Gas (2022) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cid:wpfacu:412

Access Statistics for this paper

More papers in CID Working Papers from Center for International Development at Harvard University 79 John F. Kennedy Street. Contact information at EDIRC.
Bibliographic data for series maintained by Chuck McKenney ().

 
Page updated 2025-03-30
Handle: RePEc:cid:wpfacu:412