Over the past five years conflict has led to a deterioration of Russo-Ukrainian economic relations while ties with the EU have been deepened. This shift is evident in trade flows: the European Union has become Ukraine’s biggest trading partner, while China is poised to overtake Russia as its second. Natural gas imports from Russia, Ukraine’s prior Achilles heel, have been partially replaced by reverse deliveries from the EU and reduced as result of reform of the gas sector.
Muddled initial reactions to the COVID-19 crisis tarnished the EU’s image in the Western Balkans. Europe should not take for granted the extent of its influence over its backyard in the face of Chinese and Russian charm offensives.
At this event European Commissioner Várhelyi and EBRD President Sir Suma Chakrabarti will discuss what Europe is doing to help it's neighbourhood respond to the COVID-19 crisis.
Examining the mutual benefits of a EU-Turkey customs union.
Historically, the EU enlargement process played a powerful role in encouraging the EU candidates and potential candidates to conduct fundamental political, economic and institutional reforms. This has also happened with the Western Balkan countries once they received the EU membership perspective in 2003. However, in the last few years, preparations for their accession slowed down, as a result of limited progress in domestic reforms, unresolved regional conflicts and limited appetite for further enlargement among EU member states.
Endowed with half of the world's known oil and gas reserves, the Middle East and North Africa (MENA) region is cornerstone of the global energy architecture. This article argues that – together with the pressing need to create jobs opportunities for a large and youthful population – the possibility of the world moving more aggressively towards a low-carbon future should represent a key argument for the implementation of economic reform programmes.
Bruegel fellow Simone Tagliapietra speaks to Sean Gibson in this instalment of 'The Sound of Economics', on the matter of the European energy transition and how the EU should proceed in the new institutional cycle.
What can Ukraine do to foster economic growth? How can the EU and other international partners help Ukraine with this process?
Bruegel fellow Marek Dabrowski talks to Sean Gibson about the underlying causes of Russia's slow emergence from economic crisis, in an episode of the Deep Focus podcast series.
According to popular perception, emerging-market economies have not experienced serious macroeconomic and financial turbulence since the beginning of this century. This perception was not entirely correct because it disregarded spill-over effects of the global financial crises of 2008–2009, the consequences of the decline of oil and other commodity prices in 2014–2016, economic and financial troubles caused by violent conflicts and regional political instability.
Wind power represents a key component of Turkey’s national energy strategy. Based on data collected on 138 installations in the country, this paper provides an estimation of wind power’s cost of capital in Turkey. This analysis finds that the cost of capital for wind power in Turkey compares with the one of South-east European countries. On this basis, continued governmental commitment to current support schemes for wind power must be considered as crucial to further promote wind power deployment in the country, even if the recent devaluation of the Turkish lira raises the feed-in-tariffs cost for the government.
After a decade of false starts, producers should grab the chance to co-operate as exporters.