Elina Ribakova
Elina Ribakova is a Non-resident fellow at Bruegel. She is also a Non-resident senior fellow at the Peterson Institute for International Economics and a Director of the International Affairs Program and Vice President for foreign policy at the Kyiv School of Economics. Her research focuses on global markets, economic statecraft and economic sovereignty. She has been a senior adjunct fellow at the Center for a New American Security (2020–23) and a research fellow at the London School of Economics (2015–17).
Ribakova has over 25 years of experience with financial markets and research. She has held several senior-level roles, including deputy chief economist at the Institute of International Finance in Washington, managing director and head of Europe, Middle East and Africa (EMEA) Research at Deutsche Bank in London, leadership positions at Amundi (Pioneer) Asset Management, and director and chief economist for Russia and the Commonwealth for Independent States (CIS) at Citigroup.
Prior to that, Ribakova was an economist at the International Monetary Fund in Washington (1999–2008), working on financial stability, macroeconomic policy design for commodity-exporting countries and fiscal policy. Ribakova is a seasoned public speaker. She has participated in and led multiple panels with leading academics, policymakers, and C-level executives. She frequently collaborates with CNN, BBC, Bloomberg, CNBC, and NPR. She is often quoted by and contributes op-eds to several global media, including the New York Times, Wall Street Journal, Financial Times, Washington Post, The Guardian, Le Monde, El Pais, and several other media outlets.
Ribakova holds a master of science degree in economics from the University of Warwick (1999), where she was awarded the Shiv Nath prize for outstanding academic performance; and a master of science degree in data science from the University of Virginia (2023).
Featured work
Using the financial system to enforce export controls
Russian imports of battlefield goods that are subject to export controls, including from Western producers, have surged since mid-2022
Use the financial system to enforce export controls on Russia
Use the financial system to enforce export controls on Russia
Prohibition of Western tech exports to Russia is not working; rapid measures are needed to tighten up
Two years later: addressing long-term consequences of Russia’s invasion of Ukraine
The event marked the anniversary of Russia's invasion of Ukraine, focusing on discussions about sanctions, accession, and energy
EU trade and investment following Russia's illegal invasion of Ukraine
The oil price cap and embargo on Russia work imperfectly, and defects must be fixed
Violations of the G7 price cap on Russian oil are becoming evident, but Western countries still can tighten rules and reduce the cash flows to Russia.
Sanctions against Russia will worsen its already poor economic prospects
Sanctions, coming on top of longstanding domestic shortcomings, are gradually weakening Russia.
How useful have the EU’s financial sanctions on Russia been?
A reflection on the impact of sanctions against Russia, one year since the outbreak of the war in Ukraine.
How have sanctions impacted Russia?
In this paper we assess both the immediate economic impact and the likely longer-term impact of sanctions on the Russian economy.
Sanctions on Russia two months in
A further look into sanctions on Russia and the implications for the global financial system.
War in Ukraine: Russia-China relations
A special episode of the Sound of Economics Live on China-Russia relations in the context of the Russian invasion of Ukraine.
War in Ukraine: China-Russia relations
A special episode of the Sound of Economics Live on China-Russia relations in the context of the Russian invasion of Ukraine.
Turkey’s economic struggles
Will inflation continue to surge?
Macroeconomic outlook: are we back on track?
Summary of the macro outlook based on Commission forecasts and analysis of the global picture.
Economic reform in Belarus: how can we overcome old legacies and dependency and what can Europe do?
Political change in Belarus also requires deep economic reforms - what next for the country?
Credible emerging market central banks could embrace quantitative easing to fight COVID-19
Emerging economies are fighting COVID-19 and the economic sudden stop imposed by the containment and lockdown policies, in the same way as advanced ec
COVID-19’s shock for emerging economies
COVID-19 is by far the biggest challenge policymakers in emerging economies have had to deal with in recent history.
COVID-19’s reality shock for external-funding dependent emerging economies
COVID-19 is by far the biggest challenge policymakers in emerging economies have had to deal with in recent history. Beyond the potentially large nega
Redefining Europe’s economic sovereignty
This Policy Contribution delves into the position of the EU in the current global order. China and the United States increasingly trying to gain geopo
Backstage: Reforming the European asylum system
This episode of 'The Sound of Economics' features Bruegel visiting fellow Elina Ribakova in conversation with Marc-Olivier Padis and Jean-Paul Tran Th
Saving the right to asylum
How to improve the European asylum policy?
How the EU could transform the energy market: The case for a euro crude-oil benchmark
There is a strong case for an oil benchmark in euros. Trading energy markets in more than one currency is not unprecedented, and indeed used to be the
Director’s cut: Wrapping up 2018
With 2018 drawing to a close, and the dawn of 2019 imminent, Bruegel's scholars reflect on the economic policy developments we can expect in the new y
Something Putin and Juncker appear to agree on – the euro
“It is absurd that Europe pays for 80% of its energy import bill – worth €300 billion a year – in US dollars when only roughly 2% of our energy import
Director’s Cut: Europe’s migration policy challenge
Immigration is one of the most contentious policy matters currently facing the EU. In this Director’s Cut of ‘The Sound of Economics’ Bruegel director