This paper examines the current dependencies and exposures of the euro area's financial sector in a context of rising geopolitical tensions. Focusing on Russia, China, and the Middle East, we analyze direct exposures through lending and securities holdings of banks and large investors. Our...

This paper examines the current dependencies and exposures of the euro area's financial sector in a context of rising geopolitical tensions. Focusing on Russia, China, and the Middle East, we analyze direct exposures through lending and securities holdings of banks and large investors. Our...

Russia's war of aggression, which has brought wide destruction and loss to Ukraine, has also transformed the Russian economy in significant ways. The Russian government's role in the economy has grown, with an ever-increasing amount of economic resources allocated to the war effort. The...

Three years of war, sanctions and Russia's isolation from the global community have changed its economy in many ways. Some changes such as the degraded business environment and increased government presence in the economy are likely to persist. War has also exacerbated Russia's already poor...

Three years of war, sanctions and Russia's isolation from the global community have changed its economy in many ways. Some changes such as the degraded business environment and increased government presence in the economy are likely to persist. War has also exacerbated Russia's already poor...

This paper examines the growth of military production in Russia since the onset of the war against Ukraine in February 2022. Utilizing official data from Rosstat, the study explores how military production is classified within Russian industrial output statistics. The analysis reveals...

This Policy Brief examines the economic well-being of Russian households in the wake of warrelated sanctions, leveraging ten years of data from the Russian Longitudinal Monitoring Survey (RLMS). Building on macroeconomic indicators suggesting resilience, we analyze subjective wellbeing,...

Russia's war of aggression, which has brought wide destruction and loss to Ukraine, has also transformed the Russian economy in significant ways. The Russian government's role in the economy has grown, with an ever-increasing amount of economic resources allocated to the war effort. The...

Russia's war of aggression, which has brought wide destruction and loss to Ukraine, has also transformed the Russian economy in significant ways. The Russian government's role in the economy has grown, with an ever-increasing amount of economic resources allocated to the war effort. The...