Floating liabilities: Western authorities grapple with the cost of seizing oligarchs’ superyachts

May 19, 2022
Detaining luxury vessels worth hundreds of millions of dollars was the easy bit. Maintenance runs about 10% of the yachts' value.
Above, a superyacht with suspected links to a Russian oligarch is docked in the Dominican Republic. For governments, seizing the pricey vessels comes with outrageous maintenance costs.
Ethan Swope/Getty Images

U.S. coal isn't counting on Europe for a comeback

May 17, 2022
The coal industry's decline over the last decade has made scaling up tough, even as prices surge.
Though coal prices have surged since the war in Ukraine began, it's likely not a lifeline for the ailing U.S. coal industry. Above, steam rises from a coal power plant in Alabama in 2021.
Andrew Caballero-Reynolds/AFP via Getty Images

How industrial standards help explain Russia's economic motives for invading Ukraine

May 17, 2022
International standards can be tools of globalization. They can also keep other countries locked within an economic orbit.
A Ukrainian soldier guards a road near the Russian border in April 2014, just weeks after Russia invaded and annexed Crimea. After the invasion, Ukraine rejected Russia’s industrial standards and opted for Europe’s instead.
Robert Leslie/AFP via Getty Images

How much has Putin’s war damaged Russia's economy?

May 2, 2022
As sanctions take their toll and Russia's leader writes off Western markets, analysts count the costs for the nation's people and businesses.
As Russia's war on Ukraine continues, ordinary Russians face economic burdens.
Natalia Kolesnikova/AFP via Getty Images

The trade deficit was partly to blame for the hit to GDP. But there's a silver lining.

Apr 28, 2022
Global turmoil put a cap on U.S. exports, while the easing of supply chain snags allowed Americans to import more.
More imports and fewer exports caused a slight dip in GDP, but that's giving the supply chain a chance to recover.
Mario Tama/Getty Images

What does the current energy crisis mean for the clean energy transition?

Apr 28, 2022
The war in Ukraine is forcing the U.S. to reconsider its dependence on oil.
"We have seen this scenario time and time again, where oil is proving to be an unstable factor in our economy," said Mark Brownstein at the Environmental Defense Fund. "And now we have the opportunity to move to a different future."
David McNew/Getty Images

War in Ukraine could affect food and energy prices through 2024, World Bank says

Wheat prices could increase more than 40% and energy more than 50% this year, according to the bank's president, David Malpass.
Commodity prices are rising, and "it’s hitting people in the poorest countries hardest," World Bank President David Malpass says. Stagflation is also a risk.
Louai Beshara/AFP via Getty Images

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Russia cuts off gas exports to Poland and Bulgaria

Apr 27, 2022
The economic showdown between Russia and the EU enters a new phase
Russia's energy giant Gazprom exports gas to Poland and Bulgaria. As of today, the two countries are completely cut off.
Nikolay Doychinov/AFP via Getty Images

Coal, the dirtiest of the fossil fuels, is in high demand

Apr 26, 2022
While coal is having a resurgence as a fuel source, the spike in its use may not last.
People line up for ice cream in Cheswick, Pennsylvania, near a coal-burning power station. Existing coal plants in the U.S. are being used more, though that’s likely only temporary.
Jeff Swenson/Getty Images

How the war in Ukraine is affecting debt troubles for developing countries

Apr 25, 2022
Developing nations see worsening debt challenges due to the war in Ukraine.
Above, a fruit vendor waits for customers in Colombo, Sri Lanka. Higher import prices for foods are putting pressure on the currencies of developing countries, including Sri Lanka.
Ishara S. Kodikara/AFP via Getty Images