Navigating Russia

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Moscow’s Fading Shadow Fleet: Russian Oil Revenues are More Vulnerable than Ever
The West has cracked the code on how to roll back Russia’s shadow fleet at scale. This gives policymakers new, low-risk, high-impact options for further…
 • Craig Kennedy
Russia's Hidden War Debt (full report)
Moscow has been discreetly funding heavy war costs with risky, off-budget debt. But the scheme has caused major problems—with more likely to…
 • Craig Kennedy
Russia’s Hidden War Debt
Moscow has been stealthily funding much of its war costs with risky, off-budget financing overlooked by the West. That funding is now under pressure…
 • Craig Kennedy
Making the Baltic a "Shadow-Free" Zone (Brookings Paper)
A proposal to reduce Moscow's shadow fleet operations in European waters by pressuring vessels to comply with international insurance standards (May…
 • Craig Kennedy
The Shadow Fleet in Crisis (highlights from an upcoming report)
Beset by mixed economics and perilous sanctions, shadow fleet growth has stalled. OFAC is well positioned to downsize the fleet and undercut Moscow’s…
 • Craig Kennedy
The De-Kastri Mystery
Why has half a billion dollars of Sakhalin oil been turned away from India? And what does it portend for Russia’s shadow trade?
 • Craig Kennedy
Dangerous Waters
How far will OFAC go in sanctioning Russia's shadow trade?
 • Craig Kennedy
Navigating Russia
Navigating Russia
A deeper look at Russia: history - energy - political economy
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