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301. Sense and Nonsense behind Energy Price Caps

Author:
Daniel Gros and Nathalie Tocci
Publication Date:
07-2022
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
In official circles at the highest level, from the G7 to the European Council, a tense debate is taking place on what to do about spiralling gas and oil prices, which have either broken or have come dangerously close to breaking record territory. In Europe, a special meeting of the European Council on energy was originally scheduled for the fall, but is now being brought forward, while the European Commission is working on an emergency plan to prepare for a complete cut-off of Russian gas. Energy prices dominate the agenda of our leaders. Yet it is a confused and often confusing debate that is worth unpacking.
Topic:
Climate Change, Oil, Gas, and Energy
Political Geography:
Russia and Europe

302. European Defence: Time to Act

Author:
Alessandro Azzoni
Publication Date:
07-2022
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
The Russian invasion of Ukraine on 24 February 2022 has renewed momentum on the long-standing debate on EU defence, convincing many that the time for concrete steps to meet this ambition – the building of a united European defence grounded in its own strategic and technological autonomy – has finally come. Talks have been ongoing for some 68 years – that is, since the French parliament sunk the European Defence Community project back in 1954. The manifest broadening of public consensus for the idea of European defence is not enough. Thorough technical assessments will be needed to identify priorities and strike an acceptable balance between reducing duplications, optimising expenses and the inevitable transfer of some elements of strategic and operational “sovereignty” in the military domain.
Topic:
Defense Policy, European Union, Defense Industry, Procurement, and Common Security and Defence Policy (CSDP)
Political Geography:
Europe

303. The De-Globalisation of Oil: Risks and Implications from the Politicisation of Energy Markets

Author:
Rafael Ramírez
Publication Date:
07-2022
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
The EU’s announced ban on Russian oil imports is a strong political measure that will heavily impact international energy markets, restricting the supply of 4.1 million barrels per day (mbd) of oil and derivates to a market which is a net importer of 10.72 mbd.[1] The EU’s ban, which is due to fully come into effect between December 2022 and February 2023, combined with the US’s previous ban of 600 thousand barrels a day (tbd), means that 4.7 mbd of Russian oil and derivatives are being removed from these high oil consuming markets (35.9 mbd in total). If we add the 1.3 mbd of oil that Iran has stopped producing due to US sanctions reintroduced in 2018, we reach a volume of 6 mbd of oil that is restricted or out of the market due to political decisions. The Russian invasion of Ukraine and the unprecedented sanctions and oil ban imposed on Moscow, combined with the previous oil sanctions against Iran, are fast advancing a new geopolitical reality: the de-globalisation of the international oil market.
Topic:
Oil, Sanctions, European Union, Energy, and Russia-Ukraine War
Political Geography:
Europe

304. Lebanon’s Perennial Limbo: A Paralysed System Teetering on the Brink

Author:
Giulia Gozzini
Publication Date:
08-2022
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
Against the backdrop of a catastrophic and seemingly endless downward spiral that began in 2019, a paralysing political stalemate has once again gripped Lebanon. Close to three months have passed since the Lebanese were called to the polls on 15 May, the first parliamentary elections held since the October 2019 revolution (thawra) and the 2020 Beirut blast. Yet, nothing seems to have changed. While the results did not bring about a significant political breakthrough, they did break the monopoly of traditional parties, with the election of 13 independent candidates associated with the popular protests of 2019.[1] This is a noticeable occurrence given that it was produced by a system which is tailor-made for the political élite to maintain the status quo. That said, the vote can hardly qualify as a victory of the so-called “forces of change”. Likewise, it would be unwise to claim – as many in the media did in the aftermath of the vote – that the results represent a defeat for the Shia Islamist party, Hezbollah.
Topic:
Elections, Domestic Politics, and Political Crisis
Political Geography:
Middle East and Lebanon

305. The Killing of Al-Zawahiri and the Future of Al-Qaeda

Author:
Dario Cristiani
Publication Date:
08-2022
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
In the afternoon of 1 August, Joe Biden gave a speech from the White House confirming the killing of Al-Qaeda leader, Ayman al-Zawahiri, in Afghanistan. According to senior sources from the administration, Zawahiri was killed by “a precise tailored airstrike” conducted at around 06:30 am local time in the Sherpur neighbourhood of Kabul.[1] The strike was carried out via two Hellfire missiles (allegedly, two R9X missiles) fired from a drone.[2] The area in which the attack was carried out is particularly significant: the Sherpur neighbourhood is located in a deeply protected area of the capital, in which many Taliban leaders now live. Al-Zawahiri was reportedly killed in the house owned by a top aide to senior Taliban leader, Sirajuddin Haqqani.[3]
Topic:
Security, Foreign Policy, Terrorism, Al Qaeda, and Ayman al-Zawahiri
Political Geography:
Afghanistan, South Asia, and United States of America

306. Not Yet Time for Diplomacy. Lessons from Italy’s Ill-Conceived Peace Plan for Ukraine

Author:
Riccardo Alcaro and Nona Mikhelidze
Publication Date:
06-2022
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
Few may have noticed, but Italy recently advanced its own diplomatic proposal for a resolution of the war in Ukraine. Rome’s ambitious peace plan[1] received little international recognition, although it was reportedly shared with the Quint – an informal consultation group comprising the United States, France, Germany, the United Kingdom and Italy – and formally presented to UN Secretary General António Guterres on 18 May 2022.[2] Crucially, the plan failed to impress the leaderships in both Ukraine[3] and Russia,[4] leading Foreign Minister Luigi Di Maio to put it aside on the grounds that circumstances are not “ripe” for such an initiative.[5]
Topic:
Foreign Policy, Diplomacy, Peace, and Russia-Ukraine War
Political Geography:
Russia, Europe, Ukraine, and Italy

307. North Korea’s Covid-19 Outbreak: An Opening for Engagement?

Author:
Lorenzo Mariani and Leonardo Bruni
Publication Date:
06-2022
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
In January 2020, in response to the novel coronavirus, the Democratic People’s Republic of Korea (DPRK; North Korea) closed its borders and for the next two years claimed it had not experienced a single case of Covid-19. However, on 12 May 2022, North Korea disclosed a severe domestic outbreak and in the following weeks began reporting millions of cases of “fevers” and several deaths.[1] Pyongyang’s admission was initially interpreted as a veiled request for international assistance as the country is particularly vulnerable due to its zero per cent vaccination rate, inadequate healthcare system and chronic food insecurity. However, as with previous attempts during the height of the pandemic, offers of aid and vaccines from the Republic of Korea (ROK; South Korea), the US, international organisations (IOs) and multilateral initiatives like COVAX received no response; most likely due to suspicion of the aid being politicised.[2]
Topic:
Health, Foreign Aid, European Union, Economy, and COVID-19
Political Geography:
Asia and North Korea

308. How Italians View Military Spending

Author:
Pierangelo Isernia, Rossella Borri, and Sergio Martini
Publication Date:
04-2022
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
On 16 March, a sweeping majority in the Italian Chamber of Deputies approved order 9/3491-A/35 committing the Italian government to raise the defence budget to 2 per cent of GDP.[1] Taken in the wake of the Russian invasion of Ukraine, this decision strengthens Italy’s adherence to the commitment made by NATO countries in 2004 and reiterated at the 2014 NATO summit in Newport, Wales. The announcement comes after half a decade of increasing Italian defence spending. Having decreased from 1.5 per cent of GDP in 2010 to 1.2 per cent in 2015, Italy’s military expenditures started to grow again, reaching 1.6 per cent of GDP in 2020. This figure is still considerably lower than the UK’s 2.2 per cent or France’s 2 per cent, but higher than Germany’s and Spain’s 1.4 per cent.[2] To understand the broader context within which Italy has decided to renew its commitment to the NATO target, Italian public opinion should be factored in. In this respect, opinion polls conducted prior to the war in Ukraine can shed some light on Italian attitudes toward defence spending in general and the 2 per cent NATO pledge specifically.
Topic:
Public Opinion, Budget, and Military Spending
Political Geography:
Europe and Italy

309. A Perfect Recipe for the Next Escalation on the Korean Peninsula

Author:
Lorenzo Mariani and Manuel Herrera
Publication Date:
05-2022
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
North Korea has been conducting regular missile tests as part of its weapons development programme over the past year. Put bluntly, this reflects the complete stalemate in denuclearisation talks following Biden’s election in the US and a stark reminder of the meagre results of the conciliatory strategy carried out by the former South Korean President Moon Jae-in. Hypersonic as well as short-range, intermediate-range and long-range ballistic missiles have all been part of this latest series of tests. On 24 March, North Korea claimed to have successfully launched a new modern intercontinental ballistic missile (ICBM), denominated Hwasong-17. While the entity of the vector has yet to be confirmed, if this allegation is proven true it would mark the first time an ICBM has been fired since 2017, breaking Pyongyang's self-imposed moratorium on such tests. The volley of tests has fuelled speculations that North Korea is gearing up for the launch of a larger weapon theoretically capable of reaching the US mainland.
Topic:
Arms Control and Proliferation, Nuclear Weapons, Disarmament, Nonproliferation, and Conflict Management
Political Geography:
Asia and North Korea

310. The EU and the Ukraine War: Making Sense of the Rise of a “Geopolitical” Union

Author:
Riccardo Alcaro
Publication Date:
03-2022
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
By ordering Russian armed forces into Ukraine, President Vladimir Putin has arguably made the greatest blunder of his twenty-two-year long rule. The Russian president seems to have underestimated not just Ukraine’s capacity to resist the invasion, but also the resolve of the United States and its partners to oppose it.[1] If that is indeed the case, the greatest surprise must have come from the European Union.
Topic:
Sanctions, European Union, Geopolitics, and Russia-Ukraine War
Political Geography:
Russia, Europe, and Ukraine