Oleksii Plastun
Fellow 2024/2025
Economics
Sumy State University
New Europe College, Bucharest
o.plastun@biem.sumdu.edu.ua
Bio
Prof Plastun has been working as a professor at the Department of International Economic Relations at Sumy State University since 2016. As a visiting professor, he has taught at the University of Applied Sciences, Kufstein Tirol (Austria), and Leipzig University (Leipzig, Germany).
His scientific activities primarily focus on studying financial markets and their price anomalies. He has authored over 60 peer-reviewed papers, published in respectful journals such as Finance Research Letters, Research in International Business and Finance, Journal of Economic Studies, The North American Journal of Economics and Finance, and Journal of Applied Economics.
Furthermore, he has worked as an expert in the IFO Institute (Germany), the CESifo research group (Germany), and the Scientific Council of the Ministry of Education and Science of Ukraine. Bloomberg interviewed Professor Plastun as an academic expert. He has actively participated in numerous research projects worldwide as a project manager and team member, including bilateral Czech-Ukrainian and Austrian-Ukrainian projects. He is editor-in-chief of the international scientific journal "Banks and Bank Systems" (Scopus indexed).
According to RePEc, Professor Plastun is currently ranked as the top author in Ukraine among economists. He has received scholarships from the University of Berkeley (USA), the Cabinet of Ministers of Ukraine, and the National Bank of Ukraine.
Sanctions Against Russia: Results vs Expectations and Myths vs Reality
Russia is the most sanctioned country in the world, with up to 19,000 sanctions imposed, significantly more than any other country in history. Despite this, Russian officials claim the economy is holding up. This raises important questions: Are the sanctions effective? Why does the Russian economy seem resilient? Which sanctions work best? Should future efforts focus on improving compliance rather than imposing new sanctions? These questions are crucial in light of the looming economic and energy crisis in Europe and increasing public fatigue with ongoing support for Ukraine. The continued backing of Ukraine by Western countries hinges on clear communication about the costs involved.
The project aims to provide a comprehensive understanding of the effectiveness of sanctions on Russia, ensuring their importance in halting Russian aggression is recognized.
During the project, the following will be analyzed:
- - A detailed classification of sanctions by macro and micro levels and sectors of influence, including their direct and indirect impacts.
- - An analysis of key Russian macroeconomic indicators, including GDP, industrial production, international trade, and sector-specific impacts, such as oil, gas, automotive, tourism, and entertainment.
- - An exploration of the myths vs. reality regarding Russian economic “stability” under sanctions.
- - The “turn to the East” concept as a counter-sanction strategy: current results and prospects.
- - The consequences of sanctions: energy and economic crises, company losses, and the sectors most affected.
- - Historical analogues from countries like Iran, North Korea, and Venezuela, with lessons for Russia.
- - Recommendations for future sanction strategies: focusing on quality over quantity.
The findings will clarify the efficiency of sanctions and counter misinformation, particularly the "stop the sanctions" narrative. The project’s results will be disseminated through academic papers, reports, and media posts, reaching policymakers, journalists, and the general public, aiming to foster better understanding of the ongoing sanction efforts.