Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Please note that all times are shown in the time zone of the conference. The current conference time is: 24th Aug 2026, 01:51:55am WEST
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Daily Overview |
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Egg-Timer: Trade, Resources and the Energy Transition Location: D-112 Session Chair: Heloisa De Paula, Insper | |
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Slaying Giants? Dynamic Impacts of Sanctions on Russian Oil Companies University of Connecticut, United States of America Economic sanctions increasingly target large, complex firms. But targeted firms can adapt intertemporally across extensive asset portfolios, often resulting in delayed or unintended sanction impacts. Using oil field-level panel data and a natural experiment created by Russia’s 2014 invasion of Ukraine, I show that sanctioned oil companies increase production in the short-term but sharply reduce exploration and abandon undeveloped fields – accelerating reserve depletion. To rationalize this sanction-induced short-termism, I develop a dynamic model of oil company decision-making that decomposes sanction impacts by policy type: technology bans, financing bans, and restrictions on multinational participation in joint ventures. Estimates indicate that sanctions imposed on Russian oil companies in 2014 will accelerate average field abandonment by 23% (11 years) and reduce government oil revenues by 6.5% (US$39 billion) over 20 years. | |