Adam Tooze on the State of the Russian and Ukrainian Economies | Ones and Tooze Ep. 218

This week, Trump administration negotiator Steve Witkoff sketched the outline of a new peace deal between Russia and Ukraine—even as U.S. sanctions on two Russian oil companies went into effect recently. Congress is considering a new package of sanctions that could pass later this year. Ukraine, for its part, is facing a dire budget shortfall for next year. And a growing corruption scandal threatens to engulf the Ukrainian government. Are U.S. sanctions on Russia working? How severe is Ukraine’s budget shortfall? And is corruption inevitable in Ukraine under conditions of total war? 0:00 Intro 1:10 The impact of U.S. sanctions on Russia 6:25 Russia's wartime economy 12:55 The evolving defense industry in Russia 21:54 Navigating Ukraine's budget shortfall and war economy 35:26 Complexities of corruption in Ukraine Also: Twice a year, Ones and Tooze conducts a listener support campaign. Please consider supporting the show by following the link below: https://www.paypal.com/donate/?hosted... Foreign Policy economics columnist Adam Tooze, a history professor and a popular author, is encyclopedic about basically everything: from the COVID shutdown, to climate change, to pasta sauce. On FP’s hit podcast, Tooze and FP deputy editor Cameron Abadi look at two data points each week that explain the world: one drawn from the week’s headlines and the other from just about anywhere else Tooze takes us. ---------- Listen to more episodes of Ones and Tooze: https://foreignpolicy.com/podcasts/on... https://podcasts.apple.com/us/podcast... https://open.spotify.com/show/44pekaw... Follow Ones and Tooze: X - https://x.com/OnesandToozePod Follow Adam - https://x.com/adam_tooze Follow Cam - https://x.com/CameronAbadi Subscribe to all of Foreign Policy’s podcasts at https://foreignpolicy.com/podcasts/ or wherever you get your podcasts Visit http://foreignpolicy.com/ to read the latest global news and analysis from FP. Follow Foreign Policy: X -   / foreignpolicy   Instagram -   / foreignpolicymag   Facebook -   / foreign.policy.magazine   LinkedIn -   / foreign-policy-magazine   TikTok -   / foreignpolicymagazine