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OSW Commentary |
| Iwona Wiśniewska
The sharp increase in wartime budget spending in 2024 has helped to sustain Russia’s high economic growth rates, particularly double-digit growth in manufacturing industries serving the military. However, the number of economic challenges…
Analyses |
| Iwona Wiśniewska, Filip Rudnik
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
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
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 Commentary |
| Iwona Wiśniewska
On 21 November, the State Duma approved, at the third reading, the draft federal budget for 2025 and the general parameters of the 2026–27 budgets. Expenditure will increase for another consecutive year, primarily due to spending on…
OSW Report |
| Iwona Wiśniewska
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…
OSW Commentary |
| Iwona Wiśniewska, Maciej Kalwasiński
Since December 2023, the US administration has been increasing its pressure on Russia’s financial sector and its foreign partners. This has made it progressively more difficult for the Russian Federation to pay for imported goods and…
Analyses |
| Marcin Jędrysiak, Sławomir Matuszak, Iwona Wiśniewska
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
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
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…