Resources Archive

The uneasy mutual dependence between Russia and the European Union’s energy sector is well documented. With some EU member states relying on Russia for up to 90 percent of their energy needs, Brussels has long wanted to remedy the situation by diversifying the sources of oil and gas shipped into EU borders. These efforts intensified after Russia spooked the continent in 2006 and 2009 by cutting off natural gas supplies to Ukraine over a pricing dispute, leading to gas shortages in parts of Europe during the dead of winter. Since then the EU has invested in infrastructure to link so-called […]

Editor’s note: This article is part of an ongoing WPR series on the Trans-Pacific Partnership and the potential impact on members’ economies. New Zealand’s prime minister, John Key, spoke at the U.S. Chamber of Commerce in Washington on Wednesday about the need for the United States to ratify the Trans-Pacific Partnership (TPP). In an email interview, Timothy Hazledine, a professor of economics at the University of Auckland, discussed the benefits and drawbacks of New Zealand’s membership in the TPP. WPR: What are the expected economic benefits and potential downsides for New Zealand from the TPP, and who are the expected […]

When Barack Obama traveled to Cuba in March, he became the first U.S. president in almost 90 years to set foot on the island nation. But during the final year of his presidency, he will become the first-ever sitting U.S. president to visit another communist-ruled former foe: Laos. In September, Obama will go to its capital, Vientiane, for the summit of the Association of Southeast Asian Nations (ASEAN). Given Cuba’s proximity to Florida and the huge Cuban-American community in the United States, it is hardly surprising that Obama’s visit to Havana has attracted much more attention than his upcoming trip […]

Editor’s note: This article is part of an ongoing WPR series on the impact of falling oil and commodities prices on resource-exporting countries. Last week, Nigeria’s Senate passed President Muhammadu Buhari’s proposed 2016 budget, which projected a deficit of $15 billion due to falling oil prices. In an email interview, Matthew Page, an international affairs fellow at the Council on Foreign Relations, discussed the impact of falling oil prices on Nigeria’s economy and politics. WPR: How realistic is President Buhari’s latest proposed budget, and what are the implications of the budget’s $15 billion deficit? Matthew Page: Stubbornly low crude oil […]

Editor’s note: This article is part of an ongoing WPR series on the impact of falling oil and commodities prices on resource-exporting countries. Earlier this month, Colombian President Juan Manuel Santos announced he was cutting the national budget by 3 percent due to falling oil prices. In an email interview, Christian Gómez, an international development professional, discussed the impact of falling commodities prices on Colombia’s economy. WPR: How has the relative significance of oil and commodities exports to Colombia’s economy evolved in the recent past, and what effect have falling commodities prices had on the economy and public spending and […]

In 2016, Kuwait faces a combination of domestic and regional challenges arising from looming uncertainty over succession, the decline in international oil prices and the threat from radical groups such as the so-called Islamic State. Each of those issues has the potential to bring an end to the relative political stability that Kuwait has enjoyed since its most recent legislative election in July 2013. The risk for Kuwait’s ruling officials is that the intervening years of political calm have masked, but not resolved, many of the underlying socio-political and economic triggers of discontent that surfaced in 2011 and 2012 and […]

Editor’s note: This article is part of an ongoing WPR series on the impact of falling oil and commodities prices on resource-exporting countries. Plunging oil prices have put Iraq in an economic bind, and according to The New York Times, “much tougher economic times are ahead.” In an email interview, Frank Gunter, a professor of economics at Lehigh University and author of “Political Economy of Iraq: Restoring Balance in a Post-Conflict Society,” discussed the impact on Iraq of low oil prices. WPR: How important is oil for Iraq’s economy and government revenues, and what impact have falling oil prices had […]

Pakistani Prime Minister Nawaz Sharif and Army Chief Gen. Raheel Sharif visited Saudi Arabia last week for the closing ceremonies of a multinational military exercise, following recent tensions in relations. In an email interview, Shehzad H. Qazi, managing director at CBB International and a geopolitical analyst specializing in emerging and frontier markets, discussed Pakistan’s relations with Middle East nations. WPR: Who are Pakistan’s main partners in the Middle East, and what are their main areas of cooperation? Shehzad Qazi: Saudi Arabia, the United Arab Emirates (UAE) and Turkey are three of Pakistan’s main partners in the Middle East. Pakistan and […]

Editor’s note: This article is part of an ongoing WPR series on the impact of falling oil and commodities prices on resource-exporting countries. In late January, Liberian President Ellen Johnson Sirleaf announced that the government would cut budgetary spending by 11 percent, due to a drop in mining revenues caused by the collapse of global commodities prices. In an email interview, Gonne Beekman, a postdoctoral researcher at Wageningen UR, discusses the impact of the commodities bust on Liberia. WPR: How important are commodities for Liberia’s economy, and what effect have falling commodities prices had on public spending and, by consequence, […]

Last week, U.S. warplanes bombed the Libyan town of Sabratha, targeting militants of the self-declared Islamic State. The move is the most recent illustration of the dilemma presented by Libya’s political and security stalemate, characterized by political infighting and militia violence. The Islamic State’s emergence in the country in early 2015 has given the situation regional implications. The United States is weighing its next steps, amid ongoing questions about its role in the 2011 NATO intervention that some see as the source of today’s chaos. The following articles are free for nonsubscribers until March 17. Stabilizing a Chaotic Libya Libya’s […]

“We’re all in this together,” said Ali al-Naimi, Saudi Arabia’s veteran oil minister, at an oil conference in Houston last week. The oil market “could drown in oversupply,” as the International Energy Agency (IEA) warned in January, and global prices are at their lowest level since 2003, so all petrostates are bleeding. Venezuela is on the brink of bankruptcy; Russia’s economy is expected to shrink for the second year in a row; and Nigeria and Azerbaijan are seeking emergency loans from the World Bank and the International Monetary Fund. The economic hardship experienced by its members makes one wonder why […]

Last week, Chinese engineers broke ground on what press accounts styled “China’s first overseas naval base” in Djibouti. That is a big deal. Djibouti lies in East Africa along the Bab el-Mandeb Strait, the waterway that connects the western Indian Ocean with the Red Sea. It also adjoins the patrol grounds for the Gulf of Aden counterpiracy mission, in which China’s navy has taken part since 2009. In short, it occupies strategic real estate. China, however, will not be the lone occupant of the seaport. Djibouti is also home to other foreign logistics hubs: The Japan Maritime Self-Defense Force operates […]