|   | | | | In this May edition of the SITE Newsletter, we delve into pressing developments shaping the Russian economy and their broader regional implications. This issue features SITE Director Torbjörn Becker's recent EU briefing on the economic effects of sanctions, alongside a critical look at Russia's counter-sanctions strategy.
We also highlight a discussion from SVT's Utrikesbyrån, where Becker and fellow guests explore the economic and social transformation of Russia under sanctions—raising the question: Is Russia's wartime economy resilient or on borrowed time? Additionally, we examine what the evolving state of Russia's auto market reveals about its economic fragility.
Beyond Russia, this issue includes highlights and photos from SITE's 2025 Energy Talk, as well as insights from a recent roundtable on Ukraine's EU integration. We also turn to Poland, where a high-stakes presidential runoff could either unlock or stall a new wave of reform.
In this month's Editor's Choice, we spotlight Georgia's economic path and the risks of uneven growth. Plus, don't miss SITE's latest media appearances and updates on upcoming SITE and FREE Network events.
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| BRUSSELS
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 | | From left: Finance Minister Elisabeth Svantesson and Torbjörn Becker. |
| | SITE's Torbjörn Becker Briefs EU on Russia's Economy and Effects of Sanctions |
| | On May 13, Torbjörn Becker, Director of the Stockholm Institute of Transition Economics (SITE), presented SITE's latest report on the Russian economy to the Economic and Financial Affairs Council (ECOFIN) in Brussels. The meeting brought together EU Finance and Economy Ministers to address the Union's internal economic and financial priorities, while also making space to consider the broader implications of Russia's ongoing aggression against Ukraine. This discussion comes at a particularly timely moment, coinciding with the EU's preparations for its 17th sanctions package, which is expected to be formally adopted by the Council on May 20. |
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| EVENT HIGHLIGHT
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 | | Photo of Filip Kjellgren, AI Sweden. Delivered a presentation titled: "Visualization as a Tool to Democratise the Energy System". Photo: Dominick Nilsson |
| | Summary, Slides and Photos From SITE Energy Talk 2025 |
| On May 8, 2025, SITE, in collaboration with Energiforsk, hosted the annual SITE Energy Talk, bringing together researchers, innovators, and policymakers to explore the growing intersection of artificial intelligence (AI) and the future of energy systems.
Read the summary, access the presentation slides, and view the photo gallery to learn more! |
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| SANCTIONS
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 | Photo: idikomne, Shutterstock
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| | Russia's Counter-Sanctions: Defending or Damaging Its Economy? |
| | Russia's attempt to fight back against international sanctions is steering its economy toward more government control and less competition. This new policy brief analysis, by Anna Anisimova from SITE, reveals how measures meant to protect the economy are instead tightening state grip on industries, stifling growth, and threatening fiscal stability. |
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| THE LUXURIOUS LIFE OF RUSSIANS
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 | | From left: Maria Lapenkova, Stefan Ingvarsson, Torbjörn Becker, & Rebecca Randhawa |
| | Is Russia's Wartime Economy Resilient or On Borrowed Time? |
| Despite sanctions, Russia is adapting. Local chains replace global brands. Abroad, Thailand becomes a Russian hub, with expats escaping war and instability.
To unpack these trends,Torbjörn Becker (SITE), Stefan Ingvarsson (SCEEUS), and Maria Lapenkova (SVT) offer deep insights into the economic and social dimensions of Russia's transformation, both at home and abroad, in the latest episode of SVT's Utrikesbyrån. How sustainable is this adaptation—economically, politically, and socially?
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| INSIGHTS FROM ROUNDTABLE
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 | | Photo of Klara Lindström, Analyst, Stockholm Centre for Eastern European Studies (SCEEUS). Photo: Bernhard Mollik |
| | Summary and Photos From the Roundtable on Ukraine EU Integration |
| On May 13, 2025, a roundtable organized by SITE and Nordic Ukraine Forum (NUF) brought together policymakers, researchers, and civil society representatives from Ukraine and Sweden to discuss Ukraine's EU accession path, institutional reforms, economic integration, and green transition.
Read the summary and view the photo gallery to learn more! |
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| RUSSIA'S CAR CRISIS
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 | Image: Andrii Yalanskyi, Shutterstock
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| | What does the Auto Market Reveal About Russia's Fragile Wartime Economy |
| | Russia's car market is struggling under the weight of war, sanctions, and inflation—and it's starting to show deeper cracks in the country's economy. This brief, by Cecilia Smitt Meyer from SITE, reveals how the decline in new car sales tells a broader story about weakening household finances and growing financial risks. |
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| POLAND
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 | Photo: Albert Nowiki, Shutterstock
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| | Poland's Next Turning Point? Presidential Runoff Vote Could Unlock—or Block—Historic Reforms |
| | Poland is just days away from a presidential runoff vote that could determine whether the country continues on a path of democratic reform or returns to policies seen under the previous government. This new policy brief analysis, by Michal Myck from CenEA, explores the stakes of the upcoming June 1st election and why the outcome will shape Poland's political and economic future. |
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| | EDITOR'S CHOICE |
 | Photo: Pawel Uchorczak, Shutterstock
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| | Can Georgia Grow Without Leaving People Behind? |
| | Georgia's economy has bounced back from the pandemic with fast growth, but deeper problems in jobs and inequality remain unresolved. This new policy brief analysis, by Giorgi Nebulishvili from ISET-PI, examines the country's uneven path to inclusive development and structural transformation. |
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| | | | (Listed from oldest to most recent as of this month.) | |
| | | | "European economist says Russia's economy is strained due to the Ukraine war and sanctions" / "Europeisk ekonom säger att Rysslands ekonomi är ansträngd på grund av kriget i Ukraina och sanktionerna." (ABC News) | |
| | | | "Calls for Russia's frozen assets held in Belgium to be used in rebuilding Ukraine" / "Krav på att Rysslands frysta tillgångar i Belgien ska användas för att återuppbygga Ukraina" (The Guardian) | |
| | | | "The economy is part of the war propaganda" / ""Ekonomin är en del av krigspropagandan"" (Ekonomikanalen, EFN) | |
| | | | "Putin's jab at the West: "Just to harm us"" / "Putins pik mot väst: "Bara för att skada oss"" (Expressen) | |
| | | | "A macroeconomic plan B for Ukraine (and Europe)" / "En makroekonomisk plan B för Ukraina (och Europa)" (Europe Says) | |
| | | | "Dark clouds over Russia's economy: "Clear signs"" / "Mörka moln över Rysslands ekonomi: "Tydliga tecken"" (Ekonomikanalen, EFN) | |
| | | | "The economic situation could force Putin to the negotiating table" / "Siffran kan tvinga Putin till förhandlingsbordet" (SvD Näringsliv) | |
| | | | "Economist: Income gaps are good and necessary" / "Nationalekonom: Inkomstklyftor är bra och behövs" (Dagens Nyheter) | |
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| | | | June 9 | SITE Seminar with Georgy Egorov | |
| | | | On Monday, June 9, Prof. Georgy Egorov, North Western Kellogg, will present their working paper entitled "I'd Be Surprisingly Good for You: Political Information and Network Effects." at SSE and online via Zoom. MORE INFO >> | |
| | | | June 17 | SITE Seminar with Mara Balasa | |
| | | | On Tuesday, June 17, Mara Balasa, PhD Fellow, Center for Statecraft and Strategic Communication, will present their working paper entitled "Pricing the Green Transition: An Investment Appraisal of Romanian Low-Carbon Steel" at SSE and online via Zoom. MORE INFO >> | |
| | | | Nov 28 | FREECE 2025 Workshop | |
| | | | Dec 5 | SITE 2025 Development Day Conference | |
| | | | N/A | FREE Network Academic Conference | |
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| | | | THANK YOU FOR READING
THIS MONTH'S NEWSLETTER
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Until then, see you in the next newsletter!
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