scholarly journals The Impact of Sanctions Imposed by the European Union against Iran on their Bilateral Trade: General versus Targeted Sanctions

2021 ◽  
pp. 1-26
Author(s):  
Mahdi Ghodsi ◽  
Huseyin Karamelikli
Keyword(s):  
European Union ◽  
Bilateral Trade ◽  
Negative Impact ◽  
The European Union ◽  
Total Trade ◽  
Trade Relations ◽  
Eu Member States ◽  
Distributed Lag ◽  
The Impact ◽  
The Eu

Abstract The European Union (EU) has been using economic sanctions both as a foreign policy tool and as a liberal alternative to military action. Since 2006, it has been implementing general sanctions against the whole economy of Iran, affecting their trade relations, and since 2007, following the imposition of sanctions by the UN Security Council, it has also been using smart sanctions targeting Iranian entities and natural persons associated with the country's military activities. In a nonlinear autoregressive distributed lag (NARDL) model, this paper investigates the impact of general and targeted EU sanctions against Iran on quarterly bilateral trade values between the 19 members of the euro area (EA19) and Iran between the first quarter of 1999 and the fourth quarter of 2018. In a robustness NARDL specification, trade between Iran and the 28 members of the EU is analysed. In addition, a gravity model of bilateral trade between Iran and the EU member states is run in a robustness check. The results indicate that the EU's general sanctions have strongly hampered trade flows between the two trading partners in almost all sectors, except for the primary sectors. Furthermore, our study finds that the impact of smart sanctions targeting Iranian entities and natural persons is much smaller than the impact of general sanctions on total trade values and the trade values of many sectors. Smart sanctions affect the exports of most sectors from the EA19 and the EU28 to Iran, while they are statistically insignificant for the imports of many sectors from Iran. Thus, this paper provides evidence of the motivations behind smart sanctions, which target specific individuals and entities rather than the whole economy, unlike general sanctions, which have a negative impact on ordinary people.

scholarly journals The impact of the Sanctions and Counter Sanctions on the Russian and EU Member States Economies

2021 ◽  
Author(s):  
Livia Cebotari
Keyword(s):  
European Union ◽  
Russian Federation ◽  
Bilateral Trade ◽  
The European Union ◽  
Member States ◽  
Trade Relations ◽  
Eu Member States ◽  
The Russian Federation ◽  
Restrictive Measures ◽  
The Impact

This paper analyzes the consequences of the diplomatic conflict that began in 2014 between the European Union and the Russian Federation caused by the political and military crisis in Ukraine. In March 2014, the leaders of the European Union condemned the actions of Russia in Ukraine and imposed the first restrictive measures against Russian Federation. In turn, Russia took retaliatory measures materialised in an import ban on certain agricultural food products from the EU. The aim of this research is to identify and evaluate the impact of the sanctions and countersanctions on the economy of the Russian Federation and on bilateral trade between Russia and EU member states. This article will focus on the following main objectives: analyzing the evolution of trade relations between the two major powers in the period 2014-2019, determining the factors that may explain the decline in bilateral trade during the period mentioned above and the factors that may explain why some EU Member States have suffered higher losses than others. In order to achieve the proposed objectives, both qualitative and quantitative analyses were used. Official documents, academic articles and studies conducted by various prestigious think-tanks were analysed. Also, th

scholarly journals The European Integration Challenges of Ukraine

2020 ◽  
Vol 10 (513) ◽  
pp. 14-21
Author(s):  
O. V. Kuklin ◽  
◽  
R. F. Pustoviit ◽  
M. Y. Kryvoruchko ◽  
◽  
...  
Keyword(s):  
European Union ◽  
Foreign Trade ◽  
European Integration ◽  
The European Union ◽  
Association Agreement ◽  
Trade Relations ◽  
Eu Member States ◽  
High Level ◽  
The Impact ◽  
The Eu

The article is concerned with an analysis of Ukraine’s European integration challenges, which are considered from the position of the effectiveness of foreign trade, as well as in light of the institutional challenges of the European integration course. According to the results of research, both the dynamics and the structure of Ukraine’s foreign trade relations with the EU Member States, the CIS and Asia countries are analyzed. It is defined that the focus on the European Union market prevented domestic exporters from reaching the pre-crisis levels of 2013. The resource nature of the national exports to the EU is underlined. The high level of interdependence in the sphere of foreign trade relations with former partners of Ukraine in the CIS – the Russian Federation and Belarus, especially in the field of imports of fuel and energy resources, and export of nuclear reactors, boilers, machines, railway locomotives, products of inorganic chemistry, is emphasized. It is determined that Ukraine’s implementation of the Ukraine-EU Association Agreement is at a low level of 43%. The authors characterize the main tendencies in Europe as to the quality of life of the population on the basis of two indicators - the proportion of households that barely make ends meet (Bulgaria, Greece, Croatia, Cyprus, Portugal, Romania), and have unsatisfactory living conditions (Cyprus, Latvia, Hungary, Portugal, Slovenia) - the values of which are much higher compared to the average level in the EU. The general conclusion on the ambiguity of the issue of the effectiveness of the national economy’s orientedness toward the market of the European Union has been drawn. The need to take into account the multi-vector nature of the modern globalized world in the process of researching the impact of European integration on the economic development of Ukraine is reasoned.

Political aspects of security of the European Union Member States

2020 ◽  
pp. 97-105
Author(s):  
Aleksandra Kusztykiewicz-Fedurek
Keyword(s):  
European Union ◽  
Negative Impact ◽  
The European Union ◽  
Member States ◽  
Eu Member States ◽  
Political Security ◽  
New Institutions ◽  
The Stability ◽  
Key Aspects ◽  
The Eu

Political security is very often considered through the prism of individual states. In the scholar literature in-depth analyses of this kind of security are rarely encountered in the context of international entities that these countries integrate. The purpose of this article is to draw attention to key aspects of political security in the European Union (EU) Member States. The EU as a supranational organisation, gathering Member States first, ensures the stability of the EU as a whole, and secondly, it ensures that Member States respect common values and principles. Additionally, the EU institutions focus on ensuring the proper functioning of the Eurozone (also called officially “euro area” in EU regulations). Actions that may have a negative impact on the level of the EU’s political security include the boycott of establishing new institutions conducive to the peaceful coexistence and development of states. These threats seem to have a significant impact on the situation in the EU in the face of the proposed (and not accepted by Member States not belonging to the Eurogroup) Eurozone reforms concerning, inter alia, appointment of the Minister of Economy and Finance and the creation of a new institution - the European Monetary Fund.

scholarly journals Contemporary economic relations between China and European Union

2014 ◽  
Vol 66 (1-2) ◽  
pp. 35-50
Author(s):  
Nikola Jokanovic
Keyword(s):  
European Union ◽  
Global Economy ◽  
The European Union ◽  
Member States ◽  
Economic Relations ◽  
Trade Relations ◽  
Eu Member States ◽  
Chinese Investment ◽  
High Level ◽  
The Eu

This paper will discuss the economic relations between the European Union and the People?s Republic of China. The introductory part will make an insight into the position of China in the contemporary global economy. The following part of the paper will analyze China-EU trade relations. The topics included will be a general overview of these relations since their establishing in 1975 as well as the European Union?s attitude towards the Chinese WTO membership. The Sino-EU partnership and competition will also be described and it will be followed by an overview of the Sino-EU High Level Economic and Trade Dialogue (HED). The concluding topics in this part of the paper will include Sino-EU trade flows, perceived obstacles to trade and investment as well as recent trade disputes between two trading partners. The third part of the paper will deal with Sino-EU investment flows (with an emphasis on Chinese investments in EU member states). After the introductory remarks concerning the EU investments originating from China, the paper will shed light on particular EU member states which are preferred for Chinese investment as well as the industries in which Chinese companies are willing to invest. The concluding part of this paper will offer possible development of relations between the EU and China in the near future.

scholarly journals DETERMINING THE IMPACTS OF FREIGHT TRANSPORT MODE COMBINATIONS ON AIR POLLUTION USING ARTIFICIAL NEURAL NETWORKS

2021 ◽  
Vol 19 (3) ◽  
pp. 191
Author(s):  
Nikola Petrović ◽  
Vesna Jovanović ◽  
Marijana Petrović ◽  
Boban Nikolić
Keyword(s):  
Neural Networks ◽  
Air Quality ◽  
Negative Impact ◽  
Freight Transport ◽  
The European Union ◽  
Transport Mode ◽  
Eu Member States ◽  
Feed Forward Neural Networks ◽  
The Impact ◽  
The Eu

Transport is one of the largest emitters of harmful substances that affect air quality. Each combination of freight transport modes has a different volume and at the same time has a differentiated negative impact on air quality. That is why the European Union has been making special efforts for many years to create and implement strategies aimed at improving air quality. The main goal of this paper is to present a methodology that enables quantification and analysis of the impact of each freight transport mode combination on air quality using feed-forward neural networks. The developed model uses the parameters of the EU member states in the period from 2000 to 2014. In addition to the scientific and practical contribution, the development of the model provides a good basis for the universal platform formation in order to create and develop strategies, i.e. measures to improve air quality on a global level.

scholarly journals The impact of biofuels production development in the European Union

2018 ◽  
Vol 64 (No. 4) ◽  
pp. 170-185
Author(s):  
Makutenas Valdemaras ◽  
Miceikiene Astrida ◽  
Svetlanska Tatiana ◽  
Turcekova Natalia ◽  
Sauciunas Tadas
Keyword(s):  
European Union ◽  
Strong Correlation ◽  
First Generation ◽  
Biofuel Production ◽  
The European Union ◽  
Eu Member States ◽  
Food And Feed ◽  
Production Effects ◽  
The Impact ◽  
The Eu

The article analyses the effects of the development of biofuel production in the EU (European Union) countries. For this purpose, the authors develop and adapt methodology to determine biofuel production effects considering resource prices, the areas of distribution and employment in the EU. Twenty-seven EU member states are selected for empirical research. Over 98% of production is devoted to first-generation biofuels; therefore, second- and third-generation biofuels are not analysed. The empirical study is carried out by analysing the dynamics of quantitative indicators, and we assess changes in direction by setting the values of qualitative indicators. Quantitative and qualitative indicators are calculated using correlation analysis. The results suggest that the fastest growth of ethanol production in the EU took place in Finland, Ireland and the Netherlands. During the analysed period, Germany and France were the largest producers of ethanol and biodiesel. The regression analysis showed a very strong correlation between the number of jobs created and biofuel production. There is also a very strong correlation between the volume of production of biofuels and land used for biofuel feedstock production. The production of biofuel does not significantly affect food and feed crop prices.  

scholarly journals EUFOR CHAD/CENTRAL AFRICAN REPUBLIC: POLITIZED MANDATE OF THE EUROPEAN UNION AND MILITARY MANAGEMENT OF THE DARFUR CRISIS

2021 ◽  
pp. 35-53
Author(s):  
JOVANKA KUVEKALOVIĆ-STAMATOVIĆ ◽  
VANJA GLIŠIN
Keyword(s):  
European Union ◽  
Central African Republic ◽  
The European Union ◽  
Eu Member States ◽  
Starting Point ◽  
The Republic ◽  
Conflict Solution ◽  
The Military ◽  
The Impact ◽  
The Eu

From the moment of its establishment, EUFOR Chad/Central African Republic was a specific military operation, not only from the perspective of the European Union, but the host countries as well. Mutual skepticism emerged already in the first phase of the decision-making process, when the preliminary assessments of its success and implementation were quite pessimistic. The lack of agreement among the EU Member States regarding conducting an intervention conditioned additional efforts of France, as the main initiator, to fulfil its ambitions through the decisions of Common Security and Defense Policy, thus securing its strategic position on the African continent. Equally pronounced critical blade in Chad was also covered up, having in mind that the inevitable fragmentation of ideas was avoided through a one-sided decision passed by the current political leadership. The other specificity is reflected in the fact that, based on numerous parameters, EUFOR Chad/CAR operation was assessed as the biggest intervention of the European Union conducted so far. Despite operative, logistical and financial difficulties that postponed implementation of the mandate, the operation was concluded on March 15, 2009. The logical question emerging regarding the previously stated characteristics is whether they impacted the defining of the mandate, the dynamics of its implementation and the final result of EUFOR Chad/CAR operation? The basic assumption which is the starting point for the authors of this paper states that the pronounced specificities echoed in the form of politization of the mandate and the military management of the Darfur crisis as direct motives of the operation. The lack of political mechanisms supporting the military action in conflict solution concurrently contributed to militarization of crisis management of the EU. The affirmative argument of the previously expressed statements is the impact of permanent shortages to the consistency and effectiveness of the results of EUFOR. An additional insight is expressed in the consent of the host country, the Republic of Chad, which was, in this concrete case, driven by strategic interests and strengthening of the authoritarian rule.

scholarly journals Impact of Brexit on voting power in Council of the European Union

2020 ◽  
Vol 3 (1) ◽  
pp. 192-197
Author(s):  
Jakub Gábor
Keyword(s):  
European Union ◽  
Public Discourse ◽  
Three Dimensions ◽  
The European Union ◽  
Member States ◽  
Voting Power ◽  
Eu Member States ◽  
The Uk ◽  
The Impact ◽  
The Eu

AbstractThe United Kingdom has left the European Union on 31 January 2020. Discussions that preceded such a move were conducted in three dimensions: they pertained a post-Brexit relationship between the UK and EU, future conduct within the UK and the one within the EU. Whilst public discourse has been dominated by the first two, this paper approaches the third one – on how Brexit has affected relationships between remaining 27 EU Member States. Stemming from the calculation of Banzhaf indices, it assesses the impact of Brexit on the voting power of remaining Member States in the Council of the EU – arguably the most important body within the EU institutional architecture – and identifies which countries are going to record the most significant gains and losses in this respect.

scholarly journals Dow Jones Sustainability Indices, Do They Make a Difference? The U.S. and the European Union Companies

2020 ◽  
Vol 12 (17) ◽  
pp. 6785
Author(s):  
Bryan Schmutz ◽  
Minoo Tehrani ◽  
Lawrence Fulton ◽  
Andreas W. Rathgeber
Keyword(s):  
European Union ◽  
Negative Impact ◽  
Abnormal Returns ◽  
Market Value ◽  
The European Union ◽  
Csr Strategies ◽  
The Impact ◽  
The U.S ◽  
The Eu ◽  
Sustainability Indices

Sustainability and corporate social responsibility (CSR) strategies of companies delineate the health and the welfare of the communities across the globe. The two major goals of this study are (1) To explore the relationship between the environmental regulations, market value, and adoption of sustainability and CSR strategies of the publicly traded firms listed on the Dow Jones Sustainability Indices (DJSI) and (2) To examine the impact of being added to or deleted from DJSI per different market sectors for the firms in the U.S. and the European Union (EU). The selected starting window, the year 2015, for studying the impact of addition to or deletion from the DJS indices was the Paris Accord proposal by the EU and strict sustainability regulations of the EU versus the U.S. We used event study methodology and regression analyses to explain the cumulative abnormal returns utilizing firms’ characteristics and specific market sectors. In addition, the other focus of the study was on heavy (polluting) industries and investigating if the addition to or deletion of the firms in these industries from the sustainability indices had an impact on the market value. The findings of this study reveal no impact of the environmental rules and regulations on adopting sustainability and CSR strategies by either the EU or the U.S. firms. The novel findings of this study indicate a significant negative impact on the market value of firms in heavy industries, Energy, Basic Materials, and Utilities when added to the DJS indices. The study discusses the underlying reasons for these differences and proposes strategies to enhance the impact of addition to or deletion from the DISI to increase firms’ commitments to sustainability and CSR strategies and altering the attitudes of the investors.

DIFFERENCES AMONG THE MEMBER STATES OF THE EUROPEAN UNION AND ITS INFLUENCE ON THEIR RELATIONS WITH THE RUSSIAN FEDERATION: 2014-2019

2020 ◽  
pp. 57-73
Author(s):  
Denis O. Vakarchuk ◽  
Keyword(s):  
European Union ◽  
Quantitative Analysis ◽  
Russian Federation ◽  
Heterogeneous Structure ◽  
The European Union ◽  
Member States ◽  
Eu Member States ◽  
The Russian Federation ◽  
The Impact ◽  
The Eu

The article examines the relations between Russia and the member states of the European Union in the period from 2014 to 2019. Methodologically, the author assumes that the European Union is a heterogeneous structure that affects the Russian-European relations. This is especially true for the foreign policy field where each EU state pursues its own interests. The author sets a task to study the impact ofthe differences between theEU memberstates on the dynamics of their relations with Russia through quantitative analysis. Within the confines of the empirical study, the dependent variable is presented as the state of the relations between the EU countries and the Russian Federation, and it is operationalized by an event study. To identify the differences between the EU states, the author proposes to use a set of factors such as the duration of EU membership, dependence on the trade with the Russian Federation, the type of democracy and the great power identification. Mann-Whitney U-test is the tool to investigate the connections between the variables. The result of the quantitative analysis demonstrates that in the period under review it was only the factor of belonging of a number of EU member states to the great powers that had a significant impact on their relations with Russia.

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