Russia

Johson and Wolfram argue that imposing a price cap on Iranian oil exports will diminish the benefits petrostates have in times of conflict. 

The price cap on Russian oil implemented today by the G7 countries plus Australia represents a novel approach to sanctions. The policy is designed to reduce Russian fossil fuel revenues while keeping Russian oil on the market. In this brief, Catherine Wolfram, Simon Johnson, and Łukasz Rachel explain the basic economic principles at work and discuss some of the critiques of the price cap. 

The price cap on Russian oil implemented today by the G7 countries plus Australia represents a novel approach to sanctions, according to a policy brief authored by Catherine Wolfram, Simon Johnson, and Łukasz Rachel and released today by Harvard Kennedy School’s Belfer Center for Science and International Affairs and the Mossavar-Rahmani Center for Business and Government. 

For many, integrating “decarbonization” into public policy, corporate and financial strategies has become a requirement, not an option — yet, what happens when the critical link between climate stability and decarbonization breaks?

Russia’s invasion of Ukraine has amplified the importance of national-security considerations in western countries’ energy policies. At the same time, governments must continue to focus on reducing environmental damage – in particular, on cutting greenhouse-gas emissions. Both goals, geopolitical and environmental, are urgent and should be evaluated together.

Russian military action in Ukraine could trigger an energy crisis even more serious than the one already hitting Europe. As has been pointed out, should the West hit Russia with severe new sanctions, President Vladimir Putin could cut off natural gas exports, leaving the continent shivering through midwinter. Yet there is another potential weapon of Russia’s that’s been less discussed and might be very effective: An ability to disrupt global oil markets, which would directly hit U.S. consumers.

If you were wondering whether Europe is running out of options to deal with its continuing energy crisis, one of Britain’s largest energy suppliers just offered an answer.

At the Arctic Frontiers 2021 conference, Joel Clement delivered the keynote address for the "Building the future" panel. His inspirational speech was an ode to empowering youth and building a resilient Arctic — and a reflection on the discussions of the 2020 Arctic Resilience Forum.

"One of the last ties of an economically declining Russia to Western Europe, Nord Stream must become part of a broader transatlantic strategy which combines shorter-term policy goals to deal with Moscow’s aggressive behavior and a longer-term effort to keep a door open for a more cooperative relationship”

Fran Ulmer advocates for better U.S. federal Arctic coordination at home and abroad by detailing three steps that are a good first start.