Today’s standoff between Russia and the West over Ukraine can be traced back to 2004, a little more than a decade after the end of the Cold War. At the time, Russian President Vladimir Putin was just embarking on his second term, and he began nurturing a cult of personality, voicing grievances about perceived threats on Russia’s security perimeter, and positioning himself as the defender of Russia’s great power status. By some accounts, Putin’s sense that Russia is under threat goes back to historic invasions of Russia: Batu Khan’s in the 13th century, Karl the XII’s in the 18th, Napoleon’s [...]
Trade
Dubai’s Expo 2020, the international fair hosted in the United Arab Emirates, closed last month to rave reviews. The mega event, which was postponed due to the coronavirus pandemic but retained its official name for marketing and branding purposes, ran from October 2021 to March 2022. In that time, it recorded more than 24 million visitors from more than 190 countries, according to the fair’s official website, with hundreds of millions more visiting virtually. That traffic reflects Dubai’s status as an emerging global hub between the Middle East and Europe on one hand, and Asia—particularly South Asia, from where more than a third [...]
In banning Russian coal imports from August onward, the European Union has finally broken the “energy taboo” that had beset its discussions of punitive sanctions against Russia for the war in Ukraine. Yet, the coal ban is not going to hit Russia’s economy very hard. With the clock now ticking as Russia prepares its next offensive in eastern Ukraine, Europe should press ahead and move swiftly toward measures that target Russian oil imports. Western sanctions adopted against Russia since the start of the war in Ukraine have been unprecedented in both scale and scope. They have also been insufficient. Russia’s [...]