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The Iran nuclear deal crisis: Lessons from the 1982 transatlantic dispute over the Siberian gas pipeline

A US president taking a unilateral decision that affects European interests; European policymakers outraged at US interference in their affairs; European businesses fearing losing access to some international markets – sound familiar? This is the story of a crisis that took place in 1982 regarding the Siberian gas pipeline project; its outcome should inspire optimism in the Europeans’ capacity to counteract Donald Trump’s decision to withdraw the US from the Iranian nuclear deal.

By: Emmanuel Mourlon-Druol and Angela Romano Topic: Energy & Climate, European Macroeconomics & Governance Date: May 23, 2018
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The EU should not sing to Trump’s tune on trade

The US threat of trade sanctions has put the EU in a difficult position. Nevertheless, the EU must respond decisively – not just to protect its own interests but those of the multilateral trading system, and to demonstrate to the US and other partners that trade is not a zero-sum game.

By: Maria Demertzis Topic: European Macroeconomics & Governance, Global Economics & Governance Date: May 17, 2018
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North Korea: sanctions and marketization from below

What’s at stake: despite Western sanctions, North Korea has been in the news all summer. The country was in the spotlight for the death of American student of Otto Warmbier in June, and for the frequent missiles tests in July and August. We review recent contributions on the impact of economic sanctions.

By: Silvia Merler Topic: Global Economics & Governance Date: September 11, 2017
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Kosten uns die Russland-Sanktionen wirklich 2 Millionen Jobs?

Vor zwei Wochen hat ein Bericht des Österreichischen Institut für Wirtschaftsforschung (WIFO) zur Wirkung der Russland-Sanktionen auf die europäische Wirtschaft eine hohe mediale Aufmerksamkeit erzielt. Es ist nun möglich, Medienberichte und die Studie zu vergleichen, und die der Studie zugrundeliegende Methodik zu hinterfragen. Haben die Ökonomen in Wien  die Auswirkungen der EU-Maßnahmen auf Handel, Wachstum und Beschäftigung übertreiben?

By: Georg Zachmann Topic: Global Economics & Governance Date: July 14, 2015
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The cost of escalating sanctions on Russia over Ukraine and Crimea

Sanctions are not about showing the other how much damage can be inflicted on the sanctioned party, but about demonstrating how much pain can be tolerated by the sanctioner. If the EU wants to go all-out over Crimea, stopping gas imports from Russia would be a powerful signal with limited long-term consequences 

By: Georg Zachmann Topic: European Macroeconomics & Governance, Global Economics & Governance Date: November 11, 2014