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342. HOW HISTORICAL ANALOGIES WOKE UP THE WEST
- Author:
- Eric Mosinger
- Publication Date:
- 04-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Political Violence @ A Glance
- Abstract:
- Policymakers, activists, and ordinary people often make analogies between past and present, for example, by labeling 9/11 “the Pearl Harbor of the 21st century.” In doing so, people hope to better understand surprising events and develop a plan of action for themselves and others. Vladimir Putin employed historical analogies to justify his invasion of Ukraine, while Western leaders drew on their own understanding of World War II history to mobilize a surprisingly muscular response to Russian aggression.
- Topic:
- War, History, and Vladimir Putin
- Political Geography:
- Russia, Ukraine, and Eastern Europe
343. WHY OFFSHORE FINANCE LIMITS U.S. SANCTIONS AGAINST RUSSIA
- Author:
- Menevis Cilizoglu and Chelsea Estancona
- Publication Date:
- 04-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Political Violence @ A Glance
- Abstract:
- More than 1,000 individuals and entities have now been targeted with sanctions since Russia’s invasion of Ukraine, including more than 50 oligarchs close to Putin and their families. These measures include the freezing of assets in international banks, seizure of yachts, private jets, and luxury real estate, and travel bans. Western policymakers hope that targeting a wide network of Russian political and economic elites, including oil executives, steel tycoons, media moguls and high-level intelligence officers will isolate Putin and pressure him to reverse course. The million-dollar question is, can these targeted measures actually hurt Russian oligarchs, let alone pressure Putin?
- Topic:
- Foreign Policy, War, Sanctions, Offshore Finance, and Shell Companies
- Political Geography:
- Russia, Ukraine, and United States of America
344. Nuclear Waste Policy Actions for the 117th Congress and Biden Administration
- Author:
- Matt Bowen
- Publication Date:
- 01-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Center on Global Energy Policy (CGEP), Columbia University
- Abstract:
- In the 117th Congress, the United States Senate is evenly divided, 50-50, between the two major political parties, and the margin for control of the US House is small. One nonpartisan—and overdue—policy issue that Congress and the executive branch could focus on is the US nuclear waste management program. The US is currently paying billions to utilities to house spent nuclear fuel (SNF) at operating and shutdown facilities, and high-level waste (HLW) remains at former nuclear weapons complex sites around the country. Add to this the potential for greater future reliance on nuclear power in a decarbonizing economy, and the need to finally get a handle on managing radioactive waste is clear. An earlier report from the Center on Global Energy Policy on the US nuclear waste management program examined larger structural changes that the federal government could pursue to help the program make progress, such as fixing the funding mechanism and updating regulatory standards.[1] This commentary discusses the US program as it stands in the 117th Congress and proposes a series of comparatively smaller actions that could be considered and perhaps pursued on a bipartisan basis in the next few years.
- Topic:
- Energy Policy, Governance, Leadership, and Nuclear Waste
- Political Geography:
- North America and United States of America
345. Carbon Pricing During an Energy Crisis
- Author:
- Harrison Fell and Pierre Noel
- Publication Date:
- 03-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Center on Global Energy Policy (CGEP), Columbia University
- Abstract:
- The European energy crisis, aggravated by the Russian invasion of Ukraine, amplifies the tension between climate mitigation action and energy affordability. Introducing a more effective safety valve to the EU carbon market could reduce affordability concerns and the political pressure associated with extreme price spikes, making the system more resilient. It could be accompanied by a more effective price floor too.
- Topic:
- Energy Policy, International Trade and Finance, Conflict, Carbon Emissions, and Energy Crisis
- Political Geography:
- Europe
346. Venezuela Oil Sanctions: Not an Easy Fix
- Author:
- Luisa Palacios and Francisco J. Monaldi
- Publication Date:
- 03-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Center on Global Energy Policy (CGEP), Columbia University
- Abstract:
- Russia’s invasion of Ukraine has upended global energy markets and brought energy security issues back to the forefront of global attention. The unexpected visit of a US government delegation to Caracas for talks with Nicolas Maduro on March 5th may be considered an example of official recognition of this imperative.[1] The visit led to speculation that sanctions on the Maduro regime could be lifted and that a rapid ramp up of Venezuelan oil production and export could result.[2] This commentary makes three arguments concerning these recent developments. First, rather than potentially leading to the lifting of US sanctions on the Maduro regime, the visit could result in – provided certain conditions are met – an easing or softening of existing oil sanctions via licenses for some of the international oil companies (IOCs) that still operate in Venezuela.[3] Second, in the short term, it is unlikely that this scenario, should it come to pass, would offer any meaningful relief to global oil markets, as substantial increments in oil production from Venezuela would require overcoming many obstacles and risks, even with a potential softening of oil sanctions. However, the latter would likely lead to the redirection of Venezuela’s existing oil exports to the US market. Third, Venezuela has already seen a recovery of oil production, albeit from historically low levels. In a context of no sanctions relief, continued recovery is not guaranteed and might depend on how geopolitical events impact Russian oil exports and the outcome of the Iranian nuclear negotiations.
- Topic:
- Energy Policy, Oil, Natural Resources, and Sanctions
- Political Geography:
- South America and Venezuela
347. Energy Markets and the Design of Sanctions on Russia
- Author:
- Christof Ruhl
- Publication Date:
- 03-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Center on Global Energy Policy (CGEP), Columbia University
- Abstract:
- Sanctions against the citizens, institutions, and products of the Russian Federation are evolving rapidly. Energy sanctions started late, but the number of countries embargoing oil, gas, or coal imports from Russia is expanding. These sanctions are likely to increase global fuel prices while depressing the price of the sanctioned fuel. The experience to date suggests that the current, gradual approach of reducing oil and gas imports from Russia one country at a time may have room to go further. Before the invasion of Ukraine, the sweeping and unprecedented sanctions promised in the event of a Russian invasion were often conceived as a two-pronged pincer movement. The idea was to isolate Russia from the global financial system while limiting its commodity and energy exports. Both moves were aimed at the source of the financial strength of “fortress Russia,” namely, its persistent balance of payment surplus.
- Topic:
- Energy Policy, International Trade and Finance, Sanctions, Financial Markets, and Conflict
- Political Geography:
- Russia and Europe
348. Sanctions and the Economic Consequences of Higher Oil Prices
- Author:
- Christof Ruhl
- Publication Date:
- 04-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Center on Global Energy Policy (CGEP), Columbia University
- Abstract:
- Sanctions against the Russian Federation are developing so fast that it is hard to keep track of them and even harder to see a consistent narrative as events unfold. But there is one. Russia is the world’s largest exporter of energy and commodities. A persistent balance of payment surplus is the source of its financial strength, in terms of both current income and the financial assets previously accumulated by “fortress Russia.” Oil, gas, and coal exports constitute the most valuable revenue streams and are therefore prime targets of sanctions policy.[1] The problem is that energy sanctions will backfire badly if they lead to price increases large enough to derail the economic performance of sanctioning countries.
- Topic:
- Economics, Energy Policy, Oil, Natural Resources, and Sanctions
- Political Geography:
- Global Focus
349. Hydrogen: A Hot Commodity Lacking Sufficient Statistics
- Author:
- Anne-Sophie Corbeau
- Publication Date:
- 04-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Center on Global Energy Policy (CGEP), Columbia University
- Abstract:
- Hydrogen has become one of the most debated topics in the energy industry. As an energy vector,[1] hydrogen has been touted as a possible path to decarbonize energy sectors that are considered difficult to electrify, such as heavy-duty transport. While hydrogen expansion faces challenges associated with introducing it into new sectors and decreasing the cost of green (or low-emission) hydrogen, major economies such as China, the EU, and the United States have been looking to integrate its use into their decarbonization strategies.[2] Demand for hydrogen could more than quintuple in a global net-zero-carbon-emissions scenario.[3] Given that hydrogen’s role is expected to increase significantly over the coming decade and expand into new sections of the energy system, it is essential to have more clarity on its current and future demand profile. The energy community is used to relying on statistics for more traditional fuels such as oil or natural gas; they enable analysts and investors to follow market developments, identify trends, and anticipate investment needs and opportunities. For policy makers, they can help to measure progress toward decarbonization objectives or against targets set within their hydrogen strategies as well as help them compare their activity with other countries’ developments. Understanding demand, production, and trade through data transparency is also a key element in energy security.
- Topic:
- Energy Policy, Science and Technology, Decarbonization, and Hydrogen
- Political Geography:
- Global Focus
350. Russia’s War in Ukraine: Identity, History, and Conflict
- Author:
- Jeffrey Mankoff
- Publication Date:
- 04-2022
- Content Type:
- Commentary and Analysis
- Institution:
- Center for Strategic and International Studies
- Abstract:
- Russia’s invasion of Ukraine constitutes the biggest threat to peace and security in Europe since the end of the Cold War. On February 21, 2022, Russian president Vladimir Putin gave a bizarre and at times unhinged speech laying out a long list of grievances as justification for the “special military operation” announced the following day. While these grievances included the long-simmering dispute over the expansion of the North Atlantic Treaty Organization (NATO) and the shape of the post–Cold War security architecture in Europe, the speech centered on a much more fundamental issue: the legitimacy of Ukrainian identity and statehood themselves. It reflected a worldview Putin had long expressed, emphasizing the deep-seated unity among the Eastern Slavs—Russians, Ukrainians, and Belarusians, who all trace their origins to the medieval Kyivan Rus commonwealth—and suggesting that the modern states of Russia, Ukraine, and Belarus should share a political destiny both today and in the future. The corollary to that view is the claim that distinct Ukrainian and Belarusian identities are the product of foreign manipulation and that, today, the West is following in the footsteps of Russia’s imperial rivals in using Ukraine (and Belarus) as part of an “anti-Russia project.” Throughout Putin’s time in office, Moscow has pursued a policy toward Ukraine and Belarus predicated on the assumption that their respective national identities are artificial—and therefore fragile. Putin’s arguments about foreign enemies promoting Ukrainian (and, in a more diffuse way, Belarusian) identity as part of a geopolitical struggle against Russia echo the way many of his predecessors refused to accept the agency of ordinary people seeking autonomy from tsarist or Soviet domination. The historically minded Putin often invokes the ideas of thinkers emphasizing the organic unity of the Russian Empire and its people—especially its Slavic, Orthodox core—in a form of what the historian Timothy Snyder calls the “politics of eternity,” the belief in an unchanging historical essence. The salience that Putin and other Russian elites assign to the idea of Russian-Ukrainian-Belarusian unity helps explain the origins of the current conflict, notably why Moscow was willing to risk a large-scale war on its borders when neither Ukraine nor NATO posed any military threat. It also suggests that Moscow’s ambitions extend beyond preventing Ukrainian NATO membership and encompass a more thorough aspiration to dominate Ukraine politically, militarily, and economically. It also helps explain Russia’s military strategy. Moscow appeared to calculate that enough Ukrainians, at least in the eastern part of the country, would accept some form of reintegration into a Russian sphere of influence because of shared cultural, linguistic, religious, and other ties with Russia. Despite pre-war polls showing large numbers of Ukrainians willing to take up arms to defend their country against a Russian invasion, Moscow’s wager was not entirely implausible given the recentness of the shift and the persistence of family and other ties across the Russian-Ukrainian border. Nonetheless, Russia’s war has become bogged down in no small part because this calculation about Ukrainian identity has proven dramatically wrong.
- Topic:
- War, Military Strategy, Hegemony, Conflict, Rivalry, and Strategic Interests
- Political Geography:
- Russia, Europe, and Ukraine