Iikka Korhonen

@iikkakorhonen.bsky.social

3.1K followers 1.3K following 1.9K posts

Head of BOFIT (Bank of Finland Institute for Emerging Economies), not representing the official views of my employer, RTs not endorsements

https://t.co/E0YqzEKBp7

Videos

Economics 82%

Political science 9%

Posts Replies Media Videos

Reposted by Iikka Korhonen, Francesco Nicoli

Michael McFaul @mcfaulmike.bsky.social · 9h

It is not normal for a U.S. envoy to coach the Kremlin on how to influence an American president, especially in a way that undercuts Ukrainian and American national interests. As I told @NPR's Morning Edition.

Reposted by Iikka Korhonen

Max Bergmann @maxbergmann.bsky.social · 16h

What folks need to realize about "peace talks" is that this is all theater for Washington. Ukraine knows that Russia has no intention of stopping the war, and the Russians know the Ukrainians know that. So this is just all a performance for Trump, hoping he blames the other for the lack of peace.

Reposted by Iikka Korhonen

European Central Bank @ecb.europa.eu · 21h

Vice-President Luis de Guindos: Financial Stability Review November 2025 (slides) link.europa.eu/X88pkX

Reposted by Iikka Korhonen, Gerald Friedman, Paolo Beria

Anne Applebaum @anneapplebaum.bsky.social · 1d

Witkoff advised the Russians on how to pitch their Ukraine plan to Trump www.bloomberg.com/news/article...

Bloomberg News @bloomberg.com · 1d

EXCLUSIVE: US presidential envoy Steve Witkoff advised Russia on how to pitch Ukraine plans to Trump, in audio files reviewed by Bloomberg

Witkoff Advised Russia on How to Pitch Ukraine Plan to Trump

US presidential envoy Steve Witkoff, fresh from the triumph of the Gaza peace deal, held a phone call last month with a senior Kremlin official to suggest they work together on a similar plan for Ukraine — and that Vladimir Putin should raise it with Donald Trump.

bloom.bg

Reposted by Iikka Korhonen

American Association of Wine Economists AAWE @wineecon.bsky.social · 1d

National Wine Consumption in 2023

Reposted by Iikka Korhonen

Yle News @yle.naamio.social · 1d

The area's period of darkness will continue until mid-January.

Northern Finnish Lapland goes dark as polar night begins

The area's period of darkness will continue until mid-January.

yle.fi

Iikka Korhonen @iikkakorhonen.bsky.social · 2d

Our @bofit.suomenpankki.fi DP 8/25 also on BBC Newshour. My interview at about 9:00.
www.bbc.com/audio/play/w...

BBC Audio | Newshour | Zelensky warns against giving away territory

UK PM Keir Starmer announces 'coalition of the willing' to guarantee Ukraine peace

www.bbc.com

Reposted by Iikka Korhonen, James Cameron

Christopher Miller @christopherjm.ft.com · 2d

News: US holds secret Russia-Ukraine peace talks in Abu Dhabi

US army secretary Dan Driscoll is in UAE for talks with Ukraine’s military intel chief Kyrylo Budanov and a Russian delegation as Washington pushes a peace deal to end the Kremlin’s war. @financialtimes.com

on.ft.com/43Og0fj

US holds secret Russia-Ukraine peace talks in Abu Dhabi

Army secretary Dan Driscoll meets delegations from Kyiv and Moscow in push for deal to end Kremlin’s invasion

on.ft.com

Reposted by Iikka Korhonen

Stephen Kirchner @insteconomics.bsky.social · 2d

FRB Chicago Economic Conditions Activity Index 6-12 month hiring expectations remain near record lows in November, with capex expectations also still underwater

Reposted by Iikka Korhonen

The Insider @theins.press · 2d

India buys Russian Urals crude at lowest price in at least two years after U.S. imposes sanctions on oil majors Rosneft and Lukoil

The discount on Urals relative to global benchmark Brent, including delivery, has widened from $3 to $7 per barrel.

India buys Russian Urals crude at lowest price in at least two years after U.S. imposes sanctions on oil majors Rosneft and Lukoil

Russian Urals crude is being sold to Indian refineries at the lowest price in at least two years, according to a Bloomberg report citing sources familiar with the matter. U.S. sanctions on Russia’s ma...

theins.press

Reposted by Scott Gehlbach, Iikka Korhonen

Brian Taylor @bdtaylor-su.bsky.social · 2d

Looking at this photo of the US-Ukraine Geneva meeting, I wondered who was in the delegation. ABC has the list:

abcnews.go.com/Internationa...

No Russia or Ukraine experts (although US Ambassador to Ukraine Davis & SACEUR Grynkewich were there).

Who is the guy with the notebook? Andy Baker. 1/2

Reposted by Iikka Korhonen

Agathe Demarais @agathedemarais.bsky.social · 2d

The US-Russia plan includes a $300bn signing bonus for the US in the form of Russia's central bank frozen assets - for @foreignpolicy.com I outline how the EU could curb Trump’s interest in the deal if the bloc rushes to seize these assets before America grabs them
foreignpolicy.com/2025/11/24/t...

The U.S.-Russia Plan Gives Trump a $300 Billion Signing Bonus

If Europe moves fast to seize Russian assets, it may be able to sink this bad deal.

foreignpolicy.com

Reposted by Tomasz Mickiewicz

Iikka Korhonen @iikkakorhonen.bsky.social · 2d

Volume of China's crude oil imports from Russia down more than 10% from its peak. In October the discount on Russia's oil was ~5%, after a few months when the discount was 2-3%. Threat of secondary sanctions having some effect?

Iikka Korhonen @iikkakorhonen.bsky.social · 2d

Our paper can be downloaded here;

publications.bof.fi/handle/10024...

Suomen Pankki: From sanctions to price surges : The dynamics of Russia’s import prices

publications.bof.fi

Reposted by Tomasz Mickiewicz

Iikka Korhonen @iikkakorhonen.bsky.social · 2d

This nice piece on our new
@bofit.suomenpankki.fi
DP also has some addional examples of goods whose prices have risen A LOT for Russian customers because of sanctions.
@chriscook.news
🇷🇺🇨🇳
on.ft.com/4p1N63Y Chinese exporters charge Russia more for war supplies as sanctions bite

Chinese exporters charge Russia more for war supplies as sanctions bite

Price increases show that western restrictions are limiting Moscow’s capabilities, Bank of Finland research finds

on.ft.com

Reposted by Tomasz Mickiewicz

Iikka Korhonen @iikkakorhonen.bsky.social · 2d

We wrote a paper on Russia sanctions and Russia's import prices. Because of sanctions Russia must pay MUCH more for the sanctioned goods it buys.
@bofit.suomenpankki.fi
A thread:

Iikka Korhonen @iikkakorhonen.bsky.social · 5d

Heli Simola and I wrote about the effect of sanctions on unit prices of Russia’s imports. I.e., how much does Russia have to pay more for goods EU & co have sanctioned, when it imports them from China, Türkiye and other countries?
@bofit.suomenpankki.fi DP 8/2025
🇷🇺🇨🇳🇹🇷
1/

www.bofit.fi/en/

Reposted by Iikka Korhonen

Steve Rosenberg @bbcstever.bsky.social · 2d

In today’s Russian papers there’s scepticism over the current round of diplomacy. One paper: “The European-Ukrainian gang will ‘correct’ Trump’s plan so that it’s unacceptable for Russia.” Another: “I don’t think the Special Military Operation will end this year.” #ReadingRussia

In the Russian papers, much scepticism about the peace plan.

YouTube video by Steve Rosenberg

youtu.be

Iikka Korhonen @iikkakorhonen.bsky.social · 3d

”..revised rules would probably stipulate that foreign investors had to recruit local workers and in “certain sectors like batteries” transfer technological knowhow.”
🇪🇺🇨🇳
Like the 1990s, but the other way around.
on.ft.com/4ikU0Pl EU to tighten investment rules to stand up to China

EU to tighten investment rules to stand up to China

Commission wants greater benefits for local workers and technology transfers when foreign companies set up in bloc

on.ft.com

Reposted by Jonathan Portes, Iikka Korhonen, Antonio Fatás

Hélène Rey @helene-rey.bsky.social · 3d

European defence governance and financing. Because Europe cannot be blackmailed any longer. If not now then when? @voxeu.org @cepr.org @kiel.institute cepr.org/voxeu/column...

European defence governance and financing

In a context of shifting US commitments, external threats, and global competition over trade, technology, critical minerals, talent, and intellectual property, Europe’s lack of defence capabilities leaves it vulnerable to economic and foreign policy pressure. This column outlines key principles for establishing a European Future of Defence Architecture and a framework for its financing.

cepr.org

Iikka Korhonen @iikkakorhonen.bsky.social · 3d

”Reliance, which is owned by Asia’s richest man, Mukesh Ambani, has been the largest importer of discounted Russian crude over the past three years”
🇮🇳🇷🇺
on.ft.com/43OsSSJ Reliance stops buying Russian crude at major refinery to comply with US sanctions

Reliance stops buying Russian crude at major refinery to comply with US sanctions

India’s oil purchases from Russia are chokepoint between Washington and New Delhi

on.ft.com

Iikka Korhonen @iikkakorhonen.bsky.social · 3d

Osanottoni…

Reposted by Edgar Morgenroth, Iikka Korhonen

François Heisbourg @fheisbourg.bsky.social · 3d

Rubio saying it's a Russian plan while White House says it's a US plan endorsed by Trump

The Kyiv Independent @kyivindependent.com · 4d

According to Republican Senator Mike Rounds, Rubio told senators that the 28-point peace plan drawn up by Special Envoy Steve Witkoff and his Russian counterpart, Kirill Dmitriev, was actually a Russian plan that the U.S. had agreed to pass along to Ukraine.

Rubio facing scrutiny after telling US senators that 28-point plan is a Russian proposal passed along to Ukraine

The U.S. bipartisan Senate delegation attending the Halifax International Security Forum had received a phone call from Secretary of State Marco Rubio. In it, Rubio was quite frank. According to Rep...

kyivindependent.com

Iikka Korhonen @iikkakorhonen.bsky.social · 4d

”…media should place responsibility for the tax rise on the west, arguing it is “not interested in a peaceful settlement” of the Ukraine war.”
🇷🇺
on.ft.com/4oc2oll Kremlin plotted to blame unpopular tax rise on west to shield Vladimir Putin

Kremlin plotted to blame unpopular tax rise on west to shield Vladimir Putin

Guidelines issued to state-controlled media said Russia’s president should not be personally linked to VAT rise

on.ft.com

Iikka Korhonen @iikkakorhonen.bsky.social · 4d

#caturday

Reposted by Iikka Korhonen

CNN @cnn.com · 4d

A one-time leading figure in Britain’s right-wing populist Reform UK party has been jailed for accepting cash bribes in exchange for making pro-Russian statements in the European Parliament.

Former key figure in UK populist party Reform jailed for taking bribes to make pro-Russia statements | CNN

A one-time leading figure in Britain’s right-wing populist Reform UK party has been jailed for accepting cash bribes in exchange for making pro-Russian statements in the European Parliament.

www.cnn.com

Reposted by Iikka Korhonen

Hetan Shah @hetanshah.bsky.social · 5d

Their mom had always told them she had an expensive comics collection but never showed them.

"It's a twist on the old 'Mom threw away my comics' story."
www.bbc.com/news/article...

Superman edition found in mum's attic is most valuable comic ever at $9.12m

It's a bird! It's a plane! It's a new record after Man of Steel comic found in a California home is auctioned.

www.bbc.com

Iikka Korhonen @iikkakorhonen.bsky.social · 5d

HS 84 code is a Harmonized System (HS) code that classifies "nuclear reactors, boilers, machinery and mechanical appliances; parts thereof". This is a broad chapter that includes a vast range of products, from steam turbines and bulldozers to agricultural machinery and parts for those machines8/

Iikka Korhonen @iikkakorhonen.bsky.social · 5d

What are the goods we are looking at? HS84 has most of the sanctioned goods that are ’high priority battlefield items’ or ’dual-use goods’. By way of example, prices of certain ball bearings to Russia are up two or four times from 2021. 🇷🇺🇨🇳
7/

Iikka Korhonen @iikkakorhonen.bsky.social · 5d

And yes, we did lots of robustness checks. Export prices of sanctioned goods to Malaysia? No price increase etc.

6/

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