Backing Ukraine: What’s next for Russian sanctions?

As the war in Ukraine extends past the three-year mark, policymakers in the U.S. and Europe are considering redoubled efforts to increase pressure on Russia and end the war. At the same time, Russian countermeasures against sanctions have intensified—including, in particular, its acquisition of a massive shadow fleet to circumvent the price caps on its oil trade. The advanced age of the shadow fleet is making maritime countries in Northern Europe increasingly worried about the risk of an oil spill, a disaster that would carry both environmental and fiscal costs. 

On June 5, Brookings Economic Studies and Foreign Policy brought together a panel of distinguished scholars to discuss these risks, evaluate the role of sanctions and other economic statecraft tools in ending the war, and propose new economic statecraft strategies for policymakers in the U.S. and Europe.

Viewers asked questions in advance by emailing [email protected] and on X @BrookingsEcon using #Sanctions.